Islamabad: Petrol and diesel prices are expected to decrease from May 1.
The prices of petrol, diesel, and other petroleum products are anticipated to decrease from 1st Mat, bringing some relief to people affected by inflation. This could mark the first price drop in recent months and is eagerly awaited by Pakistanis.
This expected drop in petrol prices is linked to global oil price changes, with international fuel rates decreasing by $4.3 and $1.86 per barrel. This decrease is expected to translate to a domestic price reduction of Rs7.85 and Rs3.75 for petrol and diesel, respectively.
Currently, the international per barrel prices stand at $104.76 for diesel and $107.16 for petrol.
Industry experts project a downward trajectory in petroleum product prices worldwide, indicating a potential local adjustment in costs. However, amidst this hopeful outlook, the experts caution against the prevailing volatility in global prices, highlighting the uncertainty of future trends over the next four to five days.
On April 15, 2024, the government raised the price of petrol by Rs4.53 per litre, reaching Rs293.94 per litre. Similarly, high-speed diesel witnessed an increase of Rs8.14 per litre, soaring to Rs290.38 per litre.
