A major drop is expected in the petrol and diesel prices in Pakistan, following a decrease in the international oil prices.
The government is expected to cut petrol rates by Rs13 per litre and diesel by Rs8 to Rs9.50/litre on May 16 for the next fortnight revision, according to reports.
The drop is attributed to the falling global prices after stability in the Middle East returned following the Iran-Israel missile attacks and reduction in the Red Sea tension.
If approved, it would be another relief in the fuel prices for the people in Pakistan. Last month, the government slashed the price of petrol and high-speed diesel for the next fortnight by Rs5.45 and 8.42, respectively.
The current petrol price is Rs288.49 per litre and that of HSD is Rs281.96