Fuel Prices Likely to Drop in Pakistan as Global Oil Market Sees Downward Trend

Islamabad:As global oil prices continue to decline, **petroleum prices in Pakistan** are expected to drop by **Rs. 8 to Rs. 10 per litre** for the upcoming 15-day pricing cycle, sources revealed on Saturday.

According to reports, the price of **Brent crude oil** has fallen to **$64.71 per barrel** in the international market. The downward trend has opened the possibility for a **significant reduction** in local fuel prices, especially **petrol and diesel**.

However, sources also noted that the government is currently **levying Rs. 70 per litre** in **petroleum development levy (PDL)** on both petrol and diesel. While this could limit the full impact of the global price reduction, **talks are underway** to potentially increase the **general sales tax (GST)** instead to compensate for revenue shortfalls.

It is worth noting that on **March 31**, rather than reducing petroleum prices, the government **adjusted electricity prices**, drawing criticism for not passing on the relief to motorists.

The final decision on fuel price adjustments will be announced by the **Ministry of Finance**, and new prices will take effect from **midnight on the next pricing date**.