Overview
The performance of the rupee against Dollar has made a good impact on our economy. We are expecting that petrol price reduction and it happen in real time. Petrol price reduced by Rs.2.04/liter from 16 November 2023.
The recent notification from the Finance Division petrol prices are drop for the next 15 days. this is a final decision we can count on for next fortnight. Meanwhile, the economy is stepping toward some success because businesses get benefits from a reduction in petrol rates. The overall economy getting out from high rise inflation which was claps business and day-to-day operations.
Current Petrol Prices
Petrol prices are reduced which means the price hike rumors are fake. As per the official notification and reduction in rates, the new price of Petrol is Rs. 281.34/ liter which is reduce from Rs. 283.38. Similarly, the Diesel price is cutdown from Rs. 303.18 to Rs. 296.71/liter. As per the notification, the new rate of Kerosene oil is Rs. 180.45/liter compared to Rs. 204.98.
Rupee Performance In Global Market
The main reason behind the petrol prices cut down is PKR performance. The Pakistani currency going very well in the global market. The appreciation of the rupee against USD is good for economic move and help economy. Pakistan is not independent of petrol which caused of previous record high rates of imported products. Petrol is one of the major imported products in our country. If the rupee continues gain strength against the Dollar in the international market we can get more reduce rates for imported products.
Conclusion
The reduction of fuel rates leaves positive impacts. On the other side, car prices have also reduced and automakers announced different promotions and free registration. All these give good signs of economic growth. If the rupee performs better in the future we will receive more reduction in petroleum products.
