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Pakistan to announce big cut in petrol, diesel prices from November 1

12:12 PM | 31 Oct, 2023
Pakistan to announce big cut in petrol, diesel prices from November 1
Source: File Photo

In another sigh of relief for inflation-weary masses, the government is expected to drip prices of petrol, and diesel by about Rs15-19 per litre for the first half of November.

The prices of POLs including high speed diesel will move down as local currency strengthened against the dollar amid stern measures.

It was reported that the cost of petrol would drop by around Rs20 per litre amid the comeback of the Pakistani rupee, and the diesel would be slashed by around Rs16 per litre.

Meanwhile, the caretaker government has not made any decision and Prime Minister Anwaar Kakar will make the final decision in a meeting slated to be held on October 31.

The expected price revision would be the second decrease in a month's time. Earlier this month, the caretaker setup slashed the price of petrol by Rs40 per litre and high-speed diesel by Rs15 per litre for the second half of October.

As of October 2023, the current price of petrol is Rs283.38 per litre and Rs303.18 per litre for HSD.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 22 February 2024

Pakistani rupee remains stable against US dollar and other currencies in the open market on February 22, 2024 (Thursday)

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300.2 for buying and 303.2 for selling while British Pound rate stands at 350.6 for buying, and 354.1 for selling.

UAE Dirham AED hovers at 76.2 whereas the Saudi Riyal saw slight increase, with new rates at 74.45.

Today’s currency exchange rates in Pakistan - 22 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300.2 303.2
UK Pound Sterling GBP 350.6 354.1
U.A.E Dirham AED 76.2 76.95
Saudi Riyal SAR 74.45 75.2
Australian Dollar AUD 181.15 183.15
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207.15 209.15
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207.1 209.1
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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