From last few months the crude oil prices were decreasing in the international market. However, in this regard no relief was given to the people of Pakistan as local prices were not changed by the government. In Pakistan local fuel prices are recommended by Oil and Gas Regulatory Authority (OGRA) every fifteen days, however, prime minister makes the final decision. The finance ministry is also kept in the loop in this regard.
Anyways, after months, finally the petrol and diesel prices have been decreased. These new prices will be effective immediately from Dec 16, 2022 to Dec 31 2022. Details of new reduced prices are as follows.
| Product | New Price | Old Price | Reduced by |
| Petrol | Rs. 214.8 | Rs. 224.8 | Rs. 10 |
| High Speed Diesel | Rs. 227.8 | Rs. 235.3 | Rs. 7.5 |
| Light Diesel Oil | Rs. 169 | Rs. 179 | Rs. 10 |
| Kerosene Oil | Rs. 171.83 | Rs. 181.83 | Rs. 10 |
Pakistan’s current finance minister Ishaq Dar personally announced these prices via a tweet in which he have mentioned all the new prices of petroleum products in detail.
Ishaq Dar also said while addressing the nation via mainstream media, that at the current moment Prime Minister wants us to pass on the maximum relief to the people and we have been implementing that since October 2022. On the contrary the petrol price was not revised since october, while the Kerosene Oil and diesel prices were reduced on Nov 30th.