KARACHI – Residents can breathe a sigh of relief as petrol and diesel prices are expected to decrease starting November 1, 2024.
Sources informed Pakistan Observer that petrol prices in Pakistan are anticipated to drop by up to Rs3 per litre during the first half of November. If the government approves these changes, the new price of petrol will be approximately Rs244, while diesel is expected to be around Rs249.
Current Petrol Price in Pakistan
| Petroleum Products | Rates |
|---|---|
| Petrol (MS) | Rs247.03 |
| High-Speed Diesel (HSD) | Rs251.29 |
Expected Petrol Price from Nov 1
| POLs | Rates |
|---|---|
| Petrol (MS) | Rs244 |
| High-Speed Diesel (HSD) | Rs249 |
The decrease in fuel prices is attributed to a drop of $1.5 per barrel for petrol and approximately $2.5 per barrel for high-speed diesel (HSD). As of late October, petrol is priced at around $76 per barrel, while diesel is approximately $84 per barrel.
In the last review, the price of petrol remained unchanged, while the price of diesel was increased. The upcoming reduction is expected to offer some relief to consumers amid rising living costs.
