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What could be the latest petrol price in Pakistan from December 1?

12:32 PM | 28 Nov, 2023
petrol price in pakistan
Source: File Photo

ISLAMABAD – The caretaker setup is likely to cut the price of petrol and diesel for the first half of December 2023 in light of price fluctuations in the global market.

Inflation-weary Pakistanis are expecting another sigh of relief as oil prices in international market dropped, and it could help the government lower petrol and diesel prices for the next fortnight.

Sources familiar with the development claim that the government is likely to cut the prices of petrol and diesel up to Rs20 per litre, and the expected price is supposed to be around Rs260.

The federal government has not hinted at any discount and it will announce revisions in petroleum prices on November 30.

Earlier this month, Kakar-led government announced a drop in price of petrol by Rs2.04 per litre, diesel by Rs6.47 per litre, kerosene oil by Rs6.05 per litre and light-speed diesel (LSD) by Rs9.01 per litre.

Globally, crude oil witnessed a notable downturn, with the per barrel price moving below $60. British Brent also moved down amid negative cues.

In a similar development, the government has decided to revise petroleum prices weekly, ending the current fortnightly pricing mechanism. Oil and Gas Regulatory Authority (OGRA) takes weekly revisions in fuel prices under consideration to address challenges faced by the oil industry, particularly in mitigating inventory losses.

Before taking the major step, the caretaker government has sought recommendations from all stakeholders and the Petroleum Dealers Association. 

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 20 Feb 2024

Pakistani currency remained largely stable against US dollar and other currencies in the open market on February 20, 2024 (Tuesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.05 for buying and 282.1 for selling.

On Tuesday, Euro stands at 301 for buying and 304 for selling while British Pound rate stands at 352.4 for buying, and 355.4 for selling.

UAE Dirham AED hovers at 76.55 whereas the Saudi Riyal saw slight increase, with new rates at 74.2.

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

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.05 282.1
Euro EUR 301 304
UK Pound Sterling GBP 352.4 355.4
U.A.E Dirham AED 76.55 77.25
Saudi Riyal SAR 74.2 75
Australian Dollar AUD 180 182
Bahrain Dinar BHD 743.12 751.12
Canadian Dollar CAD 206.5 208.5
China Yuan CNY 38.84 39.24
Danish Krone DKK 40.24 40.64
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.48 3.59
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 906.33 915.33
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 170.1 172.1
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.75 733.75
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 207
Swedish Korona SEK 26.85 27.15
Swiss Franc CHF 315.64 318.14
Thai Bhat THB 7.93 8.08

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