Islamabad, February 15, 2025 – Pakistan is poised to implement a significant reduction in petroleum prices during its scheduled revision for the latter half of February 2025.
The anticipated cut comes as a relief to consumers amid shifting global oil market dynamics.
According to reliable sources, the country is expected to slash petroleum prices by up to Rs 10 per litre, starting February 16, 2025. This move aligns with the government’s efforts to pass on the benefits of declining international oil prices to the public.
Projections suggest that petrol prices could decrease by Rs 2.49 per litre, bringing the rate down from Rs 257.13 to Rs 254.64. Meanwhile, high-speed diesel (HSD) is likely to experience a more substantial reduction, with prices potentially falling by Rs 10 per litre, from Rs 267.95 to Rs 257.95.
Kerosene oil is also expected to become more affordable, with an anticipated decrease of Rs 3.45 per litre, lowering the price from Rs 174.85 to Rs 171.40. Similarly, light diesel oil (LDO) may witness a reduction of Rs 5.60 per litre, moving from Rs 161.06 to Rs 155.46.
These expected petroleum price adjustments are grounded in recent trends in the international fuel market, the stability of the exchange rate, current petroleum levies, and other government-imposed taxes.
Over the past two weeks, global oil prices have seen a notable decline. Brent crude prices fell by 1.4 percent, settling at $74.14 per barrel, while West Texas Intermediate (WTI) saw a drop of 1.5 percent, reaching $70.33 per barrel. The market’s sentiment has shifted from concerns over supply shortages to confidence in adequate global petroleum supplies, partly due to a slight increase in Russian crude production.
The Pakistani government has consistently monitored international petroleum price movements to make timely adjustments, ensuring that domestic consumers benefit from favorable market conditions. With this anticipated reduction, the government aims to ease inflationary pressures and provide financial relief to households and businesses alike.
As petroleum prices continue to play a crucial role in the country’s economic landscape, authorities remain vigilant in their assessments, ready to respond to any significant shifts in the global energy market.