Petrol price expected to drop by Rs4.59 per litre from Jan 16

• Global oil price dip pushes fuel price cut expectations.
• High-speed diesel price likely to fall by Rs2.70 per litre.
• Light diesel oil (LDO) may see decrease of Rs 2.08 per litre.
  

ISLAMABAD: Petroleum product prices are expected to fall by up to Rs4.59 per litre from January 16 for the next fortnight, The News reported on Wednesday.

According to estimates prepared by the government and industry sources, petrol may drop by Rs4.59 per litre, high-speed diesel (HSD) by Rs2.70, kerosene by Rs1.82 and light diesel oil (LDO) by Rs2.08 per litre.

The anticipated reduction is attributed to fluctuations in the international oil market driven by geopolitical risks, supply concerns and changing demand dynamics.

Following the United States' increased control over Venezuelan crude oil exports, global oil prices came under downward pressure. However, persistent uncertainty has caused prices to oscillate in both directions.

Oil market forecasters have largely predicted that prices in 2026 will fall further than in 2025, when global benchmarks lost nearly 20% of their value. 

Brent crude is forecast to average below $60 per barrel, while West Texas Intermediate (WTI) is expected to hover around $50 per barrel, with the possibility of falling even lower during the year.

Based on current projections, the revised prices are expected to stand at Rs248.58 per litre for petrol, Rs254.38 for HSD, Rs169.06 for kerosene and Rs144.10 per litre for LDO.

In the previous price review, the government slashed petrol and high-speed diesel prices by Rs10.28 and Rs8.57 per litre, respectively.