Petrol prices in Pakistan are expected to see a significant reduction of Rs. 13 to Rs. 15 per litre in the coming days, as global oil prices continue to decline. Diesel prices are also likely to drop by up to Rs. 11 per litre, providing much-needed relief to consumers.

Sources added that the government is preparing to announce substantial cuts in petroleum product prices for the next two weeks. The Oil and Gas Regulatory Authority (OGRA) is set to prepare a summary of the proposed price adjustments, which will be submitted to the prime minister for approval. Once approved, the Finance Ministry will issue an official notification to implement the new rates.

The expected price reduction aligns with global market trends, where oil prices have been falling for the second consecutive day. Concerns over a potential US recession, the impact of tariffs on global economic growth, and plans by OPEC+ to increase oil supply have contributed to the downward pressure on prices.

In early trading on Tuesday, Brent crude futures dropped by 6 cents (0.1%) to $69.22 per barrel, while US West Texas Intermediate crude futures fell by 13 cents (0.2%) to $65.90 per barrel.