Petrol Prices Likely to Reduce For the Next Fortnight

The petrol prices in Pakistan are expected to see a reduction tomorrow for the remainder or the month and the next fortnight starting June 16, 2024.

According to reports, the federal government may reduce the price of petrol by Rs. 9 per litre, while the price of high-speed diesel (HSD) may be slashed by Rs. 5 per litre.

The reduction is possible due to fall in the price of petrol and diesel by $3.75 and $2.7 per barrel, respectively.

However, the final prices for petroleum products will be announced by the Finance Ministry after consultation with Prime Minister Shehbaz Sharif by midnight on June 15, 2024.

In the last fortnight, the Finance Ministry announced a reduction of Rs. 4.74 per litre and Rs. 3.80 per litre for petrol and high-speed diesel (HSD) prices, respectively.

The Finance Ministry went against PM orders, who directed a cut of Rs. 15.40 and 7.90 per litre for both commodities.

Currently, the price of petrol in Pakistan is Rs. 268.36 per litre and high-speed diesel (HSD) is being sold for Rs. 270.22 per litre.

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