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Petrol price in Pakistan decreased for next fortnight

11:45 PM | 30 Apr, 2024
Petrol price in Pakistan decreased for next fortnight
Source: File photo

The petrol price in Pakistan has been reduced by Rs5.45 per litre, bringing it down from Rs293.94 to Rs288.49 for the upcoming fortnight.

The decision has been taken in line with the recommendations of the Oil and Gas Regulatory Authority (Ogra), 

Effective from midnight on May 1, the Finance Division issued an official notification confirming the new fuel prices. Additionally, the price of diesel has been slashed by Rs8.42 per litre to Rs281.96 per litre.

For the period from May 1 to May 15, 2024, the prices of motor spirit (petrol) and high-speed diesel (HSD) are as follows:

The Finance Division explained that the reduction in petroleum product prices is attributed to the decline in global crude oil prices over the past two weeks. Ogra determined the consumer prices based on fluctuations in the international market, as stated in the notification.

It's worth noting that on April 15, the government increased petrol and diesel prices by Rs4.5 and Rs8.1 per litre, respectively.

The government regularly reviews and adjusts petroleum product prices every 15 days in response to changes in global oil prices and the local currency's value. Factors such as expected fuel consumption, supply costs of the Pakistan State Oil, and monthly tax targets are considered when determining petroleum product prices.

Daily Pakistan Global Web Desk

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Pakistani Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 19 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 19, 2024 (Wednesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.50 for buying and 280.65 for selling.

Euro's buying rate stands at 296 and selling rate is 299 while British Pound rate is 349.7 for buying, and 353.25 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.80.

Forex Rates 

Currency Symbol Buying Selling
US Dollar USD 277.50 280.65
Euro EUR 296.00 299.00
UK Pound Sterling GBP 349.70 353.25
U.A.E Dirham AED 74.80 75.60
Saudi Riyal SAR 72.80 73.55
Australian Dollar AUD 182.00 184.00
Bahrain Dinar BHD 741.18 749.18
Canadian Dollar CAD 204.00 206.00
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.18 40.58
Hong Kong Dollar HKD 35.66 36.01
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.90 1.98
Kuwaiti Dinar KWD 909.34 909.34
Malaysian Ringgit MYR 59.30 59.90
New Zealand Dollar NZD 170.79 172.79
Norwegians Krone NOK 25.97 26.27
Omani Riyal OMR 723.88 731.88
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203.65 205.65
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 311.90 314.40
Thai Bhat THB 7.58 7.73

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