The interim government of Pakistan is contemplating a significant reduction in petrol prices for the upcoming fortnight, responding to the ongoing fluctuations in the global market for petroleum products.

This price revision is attributed to the variations in international petroleum prices and a positive shift in the exchange rate. Informed sources, as reported by local media, indicate that both petrol and diesel rates could witness a substantial decrease of Rs10 per liter.

Globally, oil prices have experienced a notable decline over the past two weeks, providing an opportunity for a downward adjustment in local fuel prices. However, the benefits of this trend are somewhat offset by the persistent weakening of the Pakistani currency against the dollar. The rupee has depreciated by Rs6 during the week, reaching Rs287 against the greenback, thereby reducing the advantages of lower international oil prices for consumers.

As the interim government evaluates these factors, the proposed petrol price cut aims to alleviate the impact of global market fluctuations on local consumers, presenting a potential relief in fuel costs.