Petrol Price likely to decrease in Pakistan from May 16; Check expected rates

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Fuel price in Pakistan may see another big drop from May 16

In a further alleviation for individuals affected by inflation, it is anticipated that the prices of petrol and high-speed diesel will decrease by Rs10-12 per litre starting from May 16 for the subsequent two weeks.

Insiders familiar with the matter have indicated that fuel prices in Pakistan are poised for a decline primarily due to reduced prices in the global oil market.

Currently, Brent Crude is at $82 following a decrease of 1.25 percent, while WTI Crude is approximately $77.39.Petrol Price in Pakistan

POLsPricePetrolRs288.49DieselRs281.96Expected Petrol Price in Pakistan from May 16POLsPricePetrolRs278DieselRs277

Previous month, Pakistani government reduced petrol by Rs5.45 per liter, and diesel by 8.42 per liter. Rupee has continued stable against the US Dollar, averaging around Rs278.

The final prices after the upcoming update will depend on international market trends and the exchange rate, with the new prices set to be declared on May 15, 2024.

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