Dharshini RDA 
Current Fuel Prices in Pakistan:
The Pakistan government has announced cutbacks in fuel prices that provide some relief for the public. The official notification has stated that the new rates will apply for the next 15 days.
These changes are in line with the routine changes made by the government owing to international oil prices and local economic conditions.
Gas price reduced by Rs0.50, diminished to Rs255.63 per litre
The high-speed diesel price was slashed down by Rs5.31 to Rs258.64 per litre
Kerosene oil price cut down by Rs3.53 to Rs168.12 per litre
Light diesel price lowered by Rs2.47 per litre
Declining World Oil Prices
Meanwhile, over 1% of international oil prices had dropped, marking the first decline every month since last November, owing to the following reasons:
- New tariffs in the USA are affecting global markets
- Resumption of oil exports by Iraq from Kurdistan
- Uncertainty regarding OPEC production plans
- An ongoing effort for the end of the Ukraine war
Brent crude futures settled down $0.82 (1.11%) at $72.75 per barrel. Similarly,
WTI crude dropped by $0.62 (0.88%) to $69.73 per barrel.
Government to Deregulate Fuel Prices
To counter this, the government is also exploring the deregulation option whereby oil marketing companies can set competitive prices. This has been opposed by the Pakistan Petroleum Dealers Association on the grounds of:
- Increase in smuggled Iranian oil
- Increase in low-quality non-standard fuel
- Losses against the dealers with an investment running into billions in the sector
The government also proposes to make fuel cheaper by permitting the blending of 5% ethanol with petroleum products by the oil refineries.
