KARACHI – Given the reduction of crude oil on the global market, the cost of petroleum products is projected to skyrocket as of the beginning of the next month.
Since many people in the crisis-affected nation are being forced to pay skyrocketing fuel prices, especially as a result of strict measures imposed by the International Monetary Fund, the Sharif-led government is likely to reduce fuel prices in order to pass on the global drop to distressed consumers.
Petrol prices are anticipated to drop by between Rs4.30 and Rs5 per litre, while diesel prices are anticipated to drop by up to Rs20. According to reports in the local media, a plan to reduce the cost of kerosene by Rs13 per litre is also being taken into consideration.
The general public, who must spend Rs272 a litre for gasoline after the government previously increased costs by Rs5 per litre for a fortnight, is anticipated to breathe a sigh of relief as a result of the anticipated decrease in fuel prices.
The current administration is working to lower fuel prices for the wealthy, which will benefit people who own two-wheelers and cars up to 800cc.