Islamabad – Following a record high, petrol prices in Pakistan are anticipated to decrease in the first half of May 2024.
The federal government is poised to revise the prices of petroleum products – petrol, high-speed diesel, light-speed diesel, and kerosene oil – on April 30. The prospect of a decline in petrol prices is attributed to the downward trajectory of international oil prices.
Reports indicate a decrease in diesel prices in the international market by $4.3, now trading at $104.76 per barrel, while petrol prices have dipped by $1.86 per barrel, settling at $107.16 per barrel.
Current Petrol Price in Pakistan On April 15, the Pakistani government raised the price of petrol by Rs4.53 per litre for the latter half of April 2024, with the new petrol price now standing at Rs293.94 per litre.
According to a notification from the Finance Division, the price of high-speed diesel (HSD) has also surged by Rs8.14 per litre, with the current price reaching Rs290.38 per litre.
Expected Petrol Price in Pakistan for May 2024 It is anticipated that the petrol price will decrease by Rs7.85 to Rs286.09 per litre, while the diesel price is expected to fall by Rs3.75 to Rs286.63 per litre.
| Fuel Type | Current Price | Expected Price (Rs/litre) |
|---|---|---|
| Petrol | 293.94 | 286.09 |
| High-Speed Diesel | 290.38 | 286.63 |
