ISLAMABAD (Daily point) — The interim government is set to unveil revised petrol and diesel prices for the first half of January 2024, considering global market fluctuations and shifts in the local currency.

Insiders suggest a further decrease in petroleum prices, anticipating a reduction of approximately Rs2 per litre for petrol during the initial two weeks of January 2024.

Contrastingly, diesel prices are expected to experience a slight uptick. The updated Petroleum Oil and Lubricants (POLs) rates are scheduled to be applicable from the beginning of the upcoming month.

With these anticipated adjustments, the new petrol price is projected to be around Rs265.62 per litre, while diesel is poised to be priced at Rs277.21 per litre.

Reports indicate that the expected decline in petrol prices aligns with the recent drop in international oil prices.

As of December 2023, petrol is currently retailing at Rs267.34 per litre in Pakistan, with diesel priced at Rs276.21 per litre. In the most recent price review, Pakistani consumers experienced substantial relief, witnessing a reduction of Rs14 per litre for petrol and Rs13.50 per litre for diesel.