Lahore, The government is preparing to announce further relief in fuel prices, with petrol prices expected to decrease by an additional Rs4 per litre for the first half of June 2024. This reduction is in line with the decline observed in international petroleum prices.
This forthcoming cut will mark the third consecutive reduction in fuel prices, resulting in a total decrease of Rs24.85 per litre. Additionally, the price of high-speed diesel (HSD) is anticipated to decrease by approximately Rs3.5 per litre.
The announcement of the new fuel prices is scheduled for midnight on May 31, 2024, and will be effective for the first half of June. This follows a recent reduction in domestic diesel prices by Rs7.88 per litre to Rs274.08, marking the second consecutive reduction.
As of May 23, 2024, international petroleum product prices have decreased by $1.68 compared to the previous fortnight, now standing at $96.19. Similarly, diesel prices in the international market have dropped by 83 cents to $98.40.
It is important to note that there are still six trading sessions remaining before the next pricing update. Therefore, the final prices will be subject to changes based on global market movements and fluctuations in exchange rates
