Global oil prices fall further, fuel relief expected in Pakistan
Global crude oil prices continued their downward trend as international markets recorded another decline in both American and British benchmarks.
According to market data, US West Texas Intermediate (WTI) crude oil fell by 1.79%, bringing the price down to $79.36 per barrel. Similarly, Brent crude, the international benchmark, also dropped by 1.54%, settling at $81.89 per barrel.
The latest decline comes after a sharp fall of more than 7% in global oil prices recorded in the previous trading session, highlighting continued volatility in the international energy market.
Analysts say the sustained drop in crude oil prices could create room for fuel price adjustments in importing countries, including Pakistan, where petroleum rates are closely linked to global market movements.
With international prices sliding further, expectations are rising that the government may reduce domestic petrol and diesel prices in the upcoming review to provide relief to consumers already facing inflationary pressure.
Energy experts suggest that if the downward trend continues, Pakistan could see a notable cut in fuel prices, which may also help ease transportation costs and inflation across multiple sectors.
However, they also caution that final decisions depend on exchange rates, taxation policies, and overall fiscal considerations in the upcoming pricing review.
The government has not yet made any official announcement, but market indicators are pointing towards potential relief for consumers in the coming days if global oil prices remain on a downward trajectory.