ISLAMABAD – Petrol and diesel prices in Pakistan are expected to drop in the first half of November 2024, following a decline in global oil prices.
According to reports, the federal government may reduce petroleum prices by up to Rs3 per litre, effective from November 1, 2024.
This expectation follows a downward trend in international markets, where petrol and high-speed diesel prices dropped by approximately $1.5 and $2.5 per barrel, respectively.
Based on recent exchange rate calculations and current tax rates, petrol prices in Pakistan are projected to decrease by Rs2.30 per litre, while high-speed diesel (HSD) prices may drop by Rs3 per litre.
The government is set to announce the new petroleum prices for November 2024 on the night of October 31.
Current Petrol Prices in Pakistan
Currently, petrol is priced at Rs247.30 per litre, while diesel is being sold for Rs251.29 per litre. For the second half of October 2024, the federal government increased the price of high-speed diesel by Rs5 per litre, while keeping the petrol price steady at Rs247.03 per litre.
What Will Be the New Petrol and Diesel Prices Starting November 1?
If the petrol price is reduced by Rs2.30 per litre, the new rate from November 1 would be Rs245 per litre. Similarly, if the government approves a Rs3 per litre cut, the diesel price would drop to Rs248.49 per litre.
