The government is likely to reduce petrol prices in Pakistan in the next fortnight, starting May 16, 2024, in light of the drop in global oil prices.
According to reports, the international prices of high-speed diesel (HSD) and petrol have slid by $ 4.97 and $ 6.32 per barrel during the current fortnight.
Meanwhile, the Pakistani rupee (PKR) has also remained stable against the US dollar (USD).
Keeping in view the global trend, the price of petrol is expected to see a reduction of Rs. 12 per litre, while the price of high-speed diesel (HSD) may be slashed by Rs. 9.7 per litre.
However, the final decision will be announced by the Finance Division after consultation with Prime Minister Shehbaz Sharif by midnight on May 15, 2024.
During the last fortnightly review, the government reduced the price of petrol by Rs. 5.45 per litre, while price of high-speed diesel (HSD) was slashed by Rs. 8.42 per litre. Currently, the price of petrol in Pakistan is Rs. 288.49 per litre and HSD is being sold for Rs. 281.96 per litre.
