Fuel Prices Likely to Drop in Pakistan Over the Next 15 Days
Web Desk
|
6 months ago
A significant reduction in petroleum product prices is expected in Pakistan for the next 15-day cycle, offering potential relief to consumers amid ongoing inflationary pressures.
According to sources, a slight decline in global oil prices and a reduction in the import premium on petrol have created room for local fuel prices to decrease. Petrol and high-speed diesel (HSD) prices are anticipated to drop by approximately Rs. 3.5 and Rs. 7 per litre, respectively.
Based on the current tax rates, estimates for May 15 suggest a decrease of Rs. 3.5 per litre in the ex-depot price of petrol, while HSD could see a reduction of up to Rs. 7 per litre.
This expected cut is attributed to a fall of nearly $1.5 per barrel in global petrol prices and about $3 per barrel in diesel prices over the past two weeks.
Currently, the ex-depot price of petrol stands at Rs. 252.63 per litre. Petrol is primarily used in private vehicles and two-wheelers, whereas HSD, priced at Rs 256.64 per litre, is commonly used in agriculture and heavy transport.
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