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Petrol price in Pakistan likely to go down from May 16

11:35 PM | 9 May, 2024
Petrol price in Pakistan likely to go down from May 16
Source: File photo

Exciting news awaits consumers in Pakistan as petrol prices are poised to drop by Rs10-12 per litre starting May 16. This reduction comes as a welcome relief for individuals grappling with inflation, with sources attributing the price decrease to a dip in global oil rates.

Currently, Brent Crude is valued at $82, reflecting a 1.25 percent decrease, while WTI Crude hovers around $77.39. These international trends are expected to contribute to the anticipated decrease in petrol and high-speed diesel prices within Pakistan.

Presently, petrol is priced at Rs288.49 per litre, with diesel at Rs281.96. However, beginning May 16, petrol is expected to be priced at Rs278 per litre, and diesel at Rs277 per litre.

Last month, the Pakistani government implemented reductions of Rs5.45 per litre for petrol and Rs8.42 per litre for diesel. The stability of the Rupee against the US Dollar, averaging around Rs278, has also played a role in these upcoming price adjustments.

The finalised prices after the impending update will be influenced by global market dynamics and currency exchange rates. The official announcement regarding these revised prices is scheduled for May 15, 2024.

This anticipated decrease in petrol prices is poised to bring relief to consumers amidst ongoing economic challenges.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan - Pakistani rupee to US Dollar, Euro, Pound, Dirham, Riyal - 22 June 2024

Pakistani currency rates against US Dollar and other currencies on June 22, 2024 (Saturday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.6 for buying and 280.75 for selling.

Euro's buying rate stands at 297 and selling rate is 299.5 while British Pound rate is 350.5 for buying, and 354 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.75.

Currency Rates in Pakistan

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.7 280.85
Euro EUR 294.3 297.9
UK Pound Sterling GBP 352 355.5
U.A.E Dirham AED 75 75.8
Saudi Riyal SAR 72.85 73.6
Australian Dollar AUD 182.2 184
Bahrain Dinar BHD 740.98 748.98
Canadian Dollar CAD 202 204
China Yuan CNY 38.4 38.8
Danish Krone DKK 40.15 40.55
Hong Kong Dollar HKD 35.68 36.03
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 908.7 917.7
Malaysian Ringgit MYR 59.07 59.67
New Zealand Dollar NZD 170.98 172.98
Norwegians Krone NOK 26.38 26.68
Omani Riyal OMR 723.75 731.75
Qatari Riyal QAR 76.53 77.23
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.68 26.98
Swiss Franc CHF 315.21 317.71
Thai Bhat THB 7.59 7.74

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