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What will be the new Petrol Price in Pakistan from May 16?

12:17 PM | 13 May, 2024
What will be the new Petrol Price in Pakistan from May 16?
Source: File Photo

ISLAMABAD – The petrol price is expected to decline for the next fortnight in light of lower oil prices in the international market.

Informed officials said that the international prices of both petrol and diesel moved down over the past week, and it will help government to pass on relief to inflation hit masses.

Consumers in Pakistan are expected to see reduction of Rs14 per litre of petrol and Rs10 per litre of diesel in the second half of May.

Petrol Price in Pakistan

In April, the federal government also lowered the prices of petrol and high-speed diesel by Rs5.45 and Rs8.42 per litre, respectively. Currently, petrol is priced at Rs288.49 per litre and high-speed diesel at Rs281.96 per litre.

The decline in oil prices is attributed to weak fuel demand and statements from U.S. Federal Reserve officials indicating no immediate interest rate cuts. Brent crude futures fell 0.3% to $82.54 a barrel, while U.S. West Texas Intermediate crude futures dropped 0.2% to $78.07 a barrel.

Weak demand was evident as US gasoline and distillate inventories increase, signalling a sluggish start to driving season. Refineries are facing challenges due to increased diesel supplies from new refineries and reduced demand due to mild weather and slow economic activity.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan - PKR to US Dollar, Euro, Dirham, Riyal 18 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 18, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.50 for buying and 280.65 for selling.

Euro's buying rate stands at 296 and selling rate is 299 while British Pound rate is 349.7 for buying, and 353.25 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.80.

Currency Symbol Buying Selling
US Dollar USD 277.50 280.65
Euro EUR 296.00 299.00
UK Pound Sterling GBP 349.70 353.25
U.A.E Dirham AED 74.80 75.60
Saudi Riyal SAR 72.80 73.55
Australian Dollar AUD 182.00 184.00
Bahrain Dinar BHD 741.18 749.18
Canadian Dollar CAD 204.00 206.00
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.18 40.58
Hong Kong Dollar HKD 35.66 36.01
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.90 1.98
Kuwaiti Dinar KWD 909.34 909.34
Malaysian Ringgit MYR 59.30 59.90
New Zealand Dollar NZD 170.79 172.79
Norwegians Krone NOK 25.97 26.27
Omani Riyal OMR 723.88 731.88
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203.65 205.65
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 311.90 314.40
Thai Bhat THB 7.58 7.73

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