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.
