People in Pakistan may get some relief as petrol and diesel prices are expected to decline significantly for the next fortnight, starting March 16, 2025, following a downward trend in the global oil market.
According to sources, petrol prices may drop by Rs13 to Rs15 per litre, while diesel could see a decrease of up to Rs11 per litre in the upcoming pricing cycle. The Oil and Gas Regulatory Authority (OGRA) is set to prepare a summary for the proposed price adjustments, which will be submitted to the prime minister for approval.Â
If cleared, the Ministry of Finance will issue an official notification confirming the revised rates for the next 15 days.
In the international market, oil prices fell for a second day on Tuesday, as concerns mounted over a potential US recession, the impact of tariffs on global growth and as OPEC+ sets its sight on ramping up supply.
Brent futures fell 6 cents, or 0.1%, to $69.22 a barrel at 0402 GMT, while US West Texas Intermediate crude futures lost 13 cents, or 0.2%, to $65.90 a barrel.
US President Donald Trump’s protectionist policies have roiled markets across the world, with Trump imposing and then delaying tariffs on his country’s biggest oil suppliers, Canada and Mexico, while also raising duties on Chinese goods. China and Canada have responded with tariffs of their own.
