Pakistan, June 20 -- Solar panel prices have declined in Lahore following a major reduction in petroleum product rates. The price drop is expected to lower renewable energy costs for consumers and businesses. Households planning solar installations and battery purchases are likely to benefit the most.

Market sources said prices of solar panels with different wattage capacities have fallen by Rs4,000 to Rs9,000. Traders linked the decline to reduced transportation and logistics costs after the government cut petroleum prices. Dealers also expect further reductions in the coming weeks if fuel prices remain stable.

The latest development comes after significant cuts in petrol and diesel prices, which affected overall supply chain expenses....