Friday, May 24, 2024

Petrol Price in Pakistan Likely to Drop by Rs. 12 from 16th May

The petrol Pakistan are expected to decrease by Rs10-12 per litre starting May 16, bringing relief to individuals facing inflation. This reduction is attributed to a drop in global oil rates, with Brent Crude currently valued at $82, marking a 1.25 percent decrease, while WTI Crude stands at approximately $77.39.

These international trends are anticipated to contribute to the decrease in petrol and high-speed diesel prices within Pakistan. Presently, petrol is priced at Rs288.49 per litre, with diesel at Rs281.96. However, from May 16 onwards, petrol is projected to cost Rs278 per litre, and diesel Rs277 per litre.

Last month, the Pakistani government implemented reductions of Rs5.45 per litre for petrol and Rs8.42 per litre for diesel. Additionally, the stability of the Rupee against the US Dollar, averaging around Rs278, has influenced these upcoming price adjustments.

The finalised prices following the impending update will be influenced by global market dynamics and currency exchange rates. The official announcement regarding these revised prices is expected on May 15, 2024.

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