KARACHI – The prices of petrol, diesel and other petroleum products are expected to be cut for the first two weeks of May 2024, in what could be the first relief for inflation-weary people in recent months.
As Pakistanis are waiting for any relief from government, price for petrol and diesel and other POLs are expected to move down in first half of May 2024.
The expected cut in petrol comes amid changes in global oil prices. Fuel rates in international market moved down by $4.3 and $1.86 per barrel, respectively, a move that will be could lead to a domestic price reduction of Rs7.85 and Rs3.75.
Petrol Price in Pakistan
In second half of April 2024, the price of petrol stands at Rs293.94 per litre and diesel price hovers at Rs290.38.
| Fuel Type | Price per Litre (Rs) |
| Petrol | 293.94 |
| Diesel | 290.38 |
Expected Petrol Price in Pakistan
Petrol is expected to be slashed by Rs7 per litre while Diesel price is expected to move down around Rs4 per litre.
| Fuel Type | Expected Price |
| Petrol | Rs286.09 |
| High-Speed Diesel | Rs286.63 |
At present, international prices are at $107.16 per barrel for petrol, and $104.76 per barrel for diesel.
Reports predict further decline in petroleum product prices, suggesting a possible local adjustment. Meanwhile, global price volatility could impact future trends over the next few days.
