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'Petrol price in Pakistan to see big drop from May 16'

09:32 AM | 12 May, 2024
'Petrol price in Pakistan to see big drop from May 16'
Source: File Photo

ISLAMABAD – Petrol and diesel prices in Pakistan are expected to see drop amid fluctuation in global oil prices.

Unofficial reports claim that petrol price is expected to cut by Rs12 per litre, with diesel prices expected to follow suit with a reduction of Rs9.70 per litre.

In global oil market, petrol prices have seen a decline, dropping by $6.32 per barrel to $99.93 per barrel. Similarly, diesel prices have also plunged to $4.97 per barrel, showing a positive trend in the market.

This upcoming price reduction is a relief for many, especially after a similar decrease in petroleum prices was observed on May 1.

Petrol Price in Pakistan

If the government approve the above-mentioned fuel prices, the new rate of petrol will be around Rs276 per litre.

In last fortnight review, Pakistani government slashed petrol price by Rs5.45 to Rs288.49 per litre. High-speed diesel (HSD) price was also been cut by Rs8.42 per litre to Rs281.96.

However, amid these changes, data from the Oil Companies Advisory Committee (OCAC) and Topline Securities reveal a worrying trend in petroleum product sales.

Daily Pakistan Global Web Desk

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Pakistani Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 20 May 2024

Pakistani currency rates against US Dollar and other currencies on May 20, 2024 (Monday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.4 for buying and 280.35 for selling.

Euro stands at 297 for buying and 299.5 for selling while British Pound rate is 348.5 for buying, and 352 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 20 May 2024

Currency Symbol Buying Selling
US Dollar USD 277.4 280.35
Euro EUR 297 299.5
UK Pound Sterling GBP 348.5 352
U.A.E Dirham AED 75.25 76
Saudi Riyal SAR 73.5 74.25
Australian Dollar AUD 181 183
Bahrain Dinar BHD 747.77 755.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.96 36.31
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 913.28 922.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 169.45 171.45
Norwegian Krone NOK 25.67 25.97
Omani Riyal OMR 730.59 738.59
Qatari Riyal QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 309.01 311.51
Thai Baht THB 7.57 7.72

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