Pakistan is expected to witness a significant decrease in fuel prices, with reductions of up to Rs10 per litre anticipated to take effect from February 16, Business Recorder reported on Saturday.

According to a fortnightly review of petroleum prices, consumers can expect substantial relief from the current prices.

The estimated price reductions include a decrease of Rs2.49 per litre for petrol, from Rs257.13 to Rs254.64. High-speed diesel (HSD) is projected to see a larger drop of Rs10 per litre, decreasing from Rs267.95 to Rs257.95.

Kerosene oil and light diesel oil (LDO) are also expected to become cheaper, with potential price reductions of Rs3.45 per litre and Rs5.60 per litre, respectively.

These projected price changes are based on current international fuel prices, existing petroleum levies, a stable exchange rate, and other government taxes.

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The decrease in fuel prices is attributed to a drop in international crude oil prices, with Brent crude falling 1.4 percent to $74.14 per barrel and WTI tumbling by 1.5 percent to $70.33.