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Friday, November 22, 2024

Home Business Petrol prices likely to fall – Expected petrol price in Pakistan from May 1

Petrol prices likely to fall – Expected petrol price in Pakistan from May 1

by Our Correspondent
April 25, 2024
in Business

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ISLAMABAD – After hitting the record high, the petrol prices in Pakistan are expected to see a declined for first fortnight of next month May 2024.

The federal government is set to revise the pries of petroleum products – petrol, high speed diesel, light speed diesel and kerosene oil – on April 30. The hopes for decline in the petrol prices are being attributed to the downward trend in international oil prices.

Reports said that the diesel price in international market dipped by $4.3 as it is not being traded at $104.76 per barrel while the petrol price decreased by $1.86 a barrel to settle at $107.16 per barrel.

Petrol Price in Pakistan Today

On April 15, the Pakistani government increased the price of petrol by Rs4.53 per litre for the second half of April 2024 with the new petrol price currently stands at Rs293.94.

A notification shared by the Finance Division said the price of high-speed diesel (HSD) had also been increased by Rs8.14 per litre with current price standing at Rs290.38 per litre.