Petrol prices expected to drop significantly in the coming fortnight

A source reported on Wednesday that Pakistan is expected to significantly reduce petrol and diesel prices over the next fortnight, following a drop in global oil market rates and a decline in the import premium on petrol.

Sources indicated that the government could reduce petrol prices by up to Rs3.5 per litre and high-speed diesel prices by Rs7 per litre.

The government based these price adjustments on international oil price changes, which dropped by around $1.5 per barrel for petrol and $3 per barrel for diesel over the past two weeks.

As of now, authorities have set the ex-depot price of petrol at Rs 252.63 per litre. They will confirm the final price adjustment on May 15, 2025, after completing official calculations based on current tax rates.

The global market has shown signs of easing, which has brought down both import premiums and international crude prices, leading to a reduction in fuel prices.