Petrol may fall Rs4.59/litre from Jan 16 as global oil softens

ISLAMABAD: Pakistan’s petroleum prices are expected to decline from January 16 for the next fortnight, with petrol projected to fall by up to Rs4.59 per litre, according to estimates compiled from government and industry sources.

The projections indicate high-speed diesel (HSD) could drop by around Rs2.70 per litre, while kerosene may decrease by Rs1.82 and light diesel oil (LDO) by roughly Rs2.08 per litre.

Officials attributed the expected adjustment to volatility in international oil markets, shaped by geopolitical risks, supply concerns, and shifting demand. Global prices came under pressure after the United States tightened control over Venezuelan crude exports, though uncertainty has kept price movement uneven.

Market outlooks cited in the report suggest 2026 prices may trend lower than 2025, when major benchmarks lost close to one-fifth of their value. Forecasts referenced Brent crude averaging under $60 per barrel and WTI near $50 per barrel, with potential downside through the year.

Based on current estimates, the revised local prices could stand near Rs248.58 per litre for petrol, Rs254.38 for HSD, Rs169.06 for kerosene, and Rs144.10 for LDO. In the previous review, the government had reduced petrol and HSD prices by Rs10.28 and Rs8.57 per litre, respectively.