Due to a significant decline in global crude oil prices, there is speculation that petroleum product prices in Pakistan may also see a
SAR TO PKR and other currency rates in Pakistan – 25 July 2024 reduction this month.
In response to these global trends, the Pakistani government is expected to announce a decrease in domestic petroleum prices next week. The anticipation follows the ongoing fall in crude oil costs, which has set the stage for adjustments in local fuel prices.Prime Minister Shahbaz Sharif has initiated steps to transfer the authority to set petroleum prices from the government to oil marketing companies. This shift aims to introduce a more market-driven approach to pricing.
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