By News Desk 
Despite continuous measures to curb inflation, prices of essential goods, including fuel, remain a burden on the common people. While citizens in India seek relief, the situation in neighboring Pakistan is even more critical. Inflation has been relentlessly rising there, with government interventions often proving insufficient. However, in a recent development, the Pakistani government has provided a slight reprieve by announcing a reduction in fuel prices.
Latest Update on Petrol and Diesel Prices
The Finance Ministry of Pakistan has recently issued a notification declaring a reduction in the prices of petrol, diesel, and other fuels. As per the latest announcement, the price of diesel has been slashed by Rs 4, bringing it down from Rs 267.95 to Rs 263.95 per liter. Petrol prices have also been reduced by Rs 1, making the new price Rs 256.13 per liter, compared to the earlier Rs 257.13.
Furthermore, the price of kerosene has been decreased by Rs 3.20, and light diesel oil has seen a reduction of Rs 5.25 per liter. These price cuts aim to ease the financial strain on Pakistani citizens amid ongoing economic challenges.
Impact of Global Crude Oil Prices
The adjustment in fuel prices is also influenced by fluctuations in the international crude oil market. On Friday, crude oil prices surged, but by Saturday, there was a downward shift. The price of WTI crude dropped by 0.77% (or $0.55), settling at $70.74 per barrel. Similarly, Brent crude prices fell by 0.37% (or $0.28), reaching $74.74 per barrel. This global decline has prompted the Pakistani government to pass on some benefits to consumers.
While the reduction in fuel prices offers temporary relief, the larger battle against inflation continues. Citizens hope for sustained efforts to stabilize the economy and alleviate the burden of rising living costs.