ISLAMABAD – The petrol and diesel prices are expected to come down from June 1 amid changes in the international oil prices and import premiums.
Petrol price is expected to be lowered by Rs4.50 per litre for the first half of June 2024 while high-speed diesel (HSD) price will be slashed by Rs4 per litre.
The relief is expected as global oil markets saw a decline in prices in recent times.
The price of Brent crude oil on the London ICE plunged by $0.48 to trade at $83, while the price of Light crude oil on the NYMEX move down by $0.58 and currently hovers around $79.22.
If implemented, the reduction will provide relief to Pakistani citizens who have been dealing with high inflation, as elevated fuel prices significantly impact commuting costs.
The official announcement of the new prices is scheduled for midnight on May 31, 2024, with the new rates taking effect from June 1, 2024.
In second half of May 2024, petrol was being sold at Rs273.93 per litre, while high-octane petrol is priced at around Rs300.88 per litre.
Petrol price decreased by Rs15.39 per litre, diesel by Rs7.88
