In an important development, consistent with recent fluctuations in the international oil market, gasoline prices in Pakistan are likely to show a fuel price adjustment trend in early January 2024.Insiders with knowledge of the situation said that a significant price cut of about 1.
72 rupees per liter is on the horizon in the first half of next month.This expected correction could be the third consecutive drop in gasoline prices in recent months. At the same time, diesel consumption is expected to increase moderately, with an estimated increase of between Rs 1 and Rs 1.30 per litre.
Against the backdrop of record inflation and economic challenges facing Pakistanis, a possible fall in fuel prices could provide a glimmer of relief and help the government stabilize prices of essentials, including food.
The caretaker government plans to make a formal announcement on the proposed fuel price adjustment on December 31, 2023.
Estimated petrol and diesel prices for January 2024: Petrol: Rs265.62
Diesel: Rs277 .21
These adjustments are in line with the previous review in which petrol prices increased Following the laudable decision of the people, diesel prices have dropped significantly to Rs 13.50.
Stay tuned for further updates as the country looks forward to a positive start to the new year with the potential for fuel cost relief.
