ISLAMABAD – A significant decline in the price of petrol, and diesel is expected for the second fortnight of October amid a decline in global prices.
Pakistan is experiencing record inflation, and petrol prices crossed triple century, while the country’s oil sector dealt a major blow, marking its lowest point since Covid lockdown.
Sources claimed a significant drop in petroleum product prices after a drop of $7 per barrel. This reduction is reflected in the Gulf market where crude oil prices moved down lately.
To pass on the global relief, the interim government is likely to slash petrol prices by up to Rs20 per liter.
Furthermore, diesel prices are also projected to decrease between Rs15-20 per liter.
Amid the drop in global prices, the local currency against the US Dollar improved, which will help the government to make changes.
Earlier, the prices of petroleum products were reduced as inflation hit the masses getting the first decrease in two months. The interim government also announced a drop in petroleum prices by up to Rs11 per litre. The new prices will come into effect at midnight tonight.
Following Rs8 drop, petrol will now be sold at Rs323.38 per litre from October 1. The new price of high-speed diesel has been set at Rs318.18 per litre.
Pakistani rupee saw marginal improvement against US dollar as it appreciated in the open bank market.
On Thursday, the US dollar moved up and was being quoted at 285.3 for buying and 288.15 for selling.
Euro moves down to 311 for buying and 314 for selling. British Pound rate stands at 358.5 for buying, and 361.5 for selling.
UAE Dirham AED stands at 78 whereas the Saudi Riyal rate stands at 76.20.
Currency | Symbol | Buying | Selling |
US Dollar | USD | 285.3 | 288.15 |
Euro | EUR | 311 | 314 |
UK Pound Sterling | GBP | 358.5 | 361.5 |
U.A.E Dirham | AED | 78 | 78.7 |
Saudi Riyal | SAR | 76.2 | 77 |
Australian Dollar | AUD | 187.2 | 189 |
Bahrain Dinar | BHD | 759.67 | 767.67 |
Canadian Dollar | CAD | 209 | 211 |
China Yuan | CNY | 39.58 | 39.98 |
Danish Krone | DKK | 41.38 | 41.78 |
Hong Kong Dollar | HKD | 36.63 | 36.98 |
Indian Rupee | INR | 3.39 | 3.5 |
Japanese Yen | JPY | 1.49 | 1.56 |
Kuwaiti Dinar | KWD | 926.7 | 935.7 |
Malaysian Ringgit | MYR | 60.38 | 60.98 |
New Zealand Dollar | NZD | 173.44 | 175.44 |
Norwegians Krone | NOK | 26.25 | 26.55 |
Omani Riyal | OMR | 741.26 | 749.26 |
Qatari Riyal | QAR | 77.63 | 78.33 |
Singapore Dollar | SGD | 211 | 213 |
Swedish Korona | SEK | 26.93 | 27.23 |
Swiss Franc | CHF | 325.9 | 328.4 |
Thai Bhat | THB | 8.23 | 8.38 |
KARACHI – The gold price continues to climb up in the local market in line of upward trend in international market.
On Thursday, the single tola of 24 Karat gold was available at Rs217,400, and the price for 10-gram gold reached Rs186,390.
Meanwhile, the 22 Karat Gold price stands at Rs199,282, 21 karat rate for each tola is Rs190,225 and 18k gold rate hovers around Rs163,050.
In international market, the price of precious metal hovers around $2,045 per ounce.
City | Gold | Silver |
Lahore | PKR 217,400 | PKR 2,696 |
Karachi | PKR 217,400 | PKR 2,696 |
Islamabad | PKR 217,400 | PKR 2,696 |
Peshawar | PKR 217,400 | PKR 2,696 |
Quetta | PKR 217,400 | PKR 2,696 |
Sialkot | PKR 217,400 | PKR 2,696 |
Attock | PKR 217,400 | PKR 2,696 |
Gujranwala | PKR 217,400 | PKR 2,696 |
Jehlum | PKR 217,400 | PKR 2,696 |
Multan | PKR 217,400 | PKR 2,696 |
Bahawalpur | PKR 217,400 | PKR 2,696 |
Gujrat | PKR 217,400 | PKR 2,696 |
Nawabshah | PKR 217,400 | PKR 2,696 |
Chakwal | PKR 217,400 | PKR 2,696 |
Hyderabad | PKR 217,400 | PKR 2,696 |
Nowshehra | PKR 217,400 | PKR 2,696 |
Sargodha | PKR 217,400 | PKR 2,696 |
Faisalabad | PKR 217,400 | PKR 2,696 |
Mirpur | PKR 217,400 | PKR 2,696 |
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