KARACHI – The petroleum prices in Pakistan are expected to decrease in the upcoming price review on April 30 due to the international decline in oil prices.
According to the media reports, global prices for diesel and gasoline have dropped by $4.3 per barrel and $1.86 per barrel, respectively, which could lead to a reduction in domestic prices.
The oil industry experts said that petroleum product prices are declining worldwide. If these trends continue, local petroleum prices in Pakistan may also decrease.
On April 29, 2024, the oil industry will finalize its data, reflecting price trends over the past 15 days.
In the most recent pricing review on April 15, 2024, the government increased petrol prices by Rs4.53 per litre to Rs293.94 per litre.
High-speed diesel now costs Rs290.38 per litre, an increase of Rs8.14 per litre.
Every 15 days, the government adjusts petroleum prices based on global oil price fluctuations and local currency exchange rates.
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