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Here’s how much petrol price is likely to go down in Pakistan

05:19 PM | 10 Dec, 2023
Here’s how much petrol price is likely to go down in Pakistan
Source: File Photo

ISLAMABAD – The price of petrol and diesel is likely to be revised in line with fluctuations in the local currency and changes in global oil prices.

The caretaker government is likely to cut the price of petrol and diesel for second half of December 2023, with expected drop is somewhere around Rs15 per litre.

Reports in local media said a significant reduction in fuel prices in light of dip in global oil prices that contributed to potential relief for Pakistanis, who are facing inflation amid an economic crisis.

Globally, the price of petrol per barrel moved down by $5.49 to $94.95, and diesel plunged by $5.13 to $100.05.

As of early Dec, petrol price stands at Rs 281.34 per litre for petrol and Rs 289.79 per litre for diesel.

The government will make a final decision on December 15, and the new prices will be implemented from December 16.

Kakar led is looking to tame inflation with fuel price cuts and price-control mechanism. The country is moving to economic recovery under a caretaker government after the country averts debt default, and cut in fuel prices will aid in inflation control.

Daily Pakistan Global Web Desk

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 28 Feb 2024

Pakistani currency remains momentum against US dollar in the open market on February 28, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar moves up and currently hovers at 282 for buying and 282.25 for selling.

Euro currently stands at 303.1 for buying and 306.1 for selling while British Pound rate stands at 351.6 for buying, and 355.1 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.25.

Today’s currency exchange rates in Pakistan - 28 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 282 282.25
Euro EUR 303.1 306.1
UK Pound Sterling GBP 351.6 355.1
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.25 75.05
Australian Dollar AUD 181.1 183.1
Bahrain Dinar BHD 742.91 750.91
Canadian Dollar CAD 207.1 209.1
China Yuan CNY 38.87 39.27
Danish Krone DKK 40.61 41
Hong Kong Dollar HKD 35.75 36.1
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 905.46 914.46
Malaysian Ringgit MYR 58.5 59.1
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.41 26.71
Omani Riyal OMR 725.54 733.54
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207.15 209.15
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317 319.5
Thai Bhat THB 7.76 7.91

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