Petrol Prices Expected to Reduce from May 1

The government is likely to reduce petrol prices in Pakistan for the next fortnight, starting May 1, 2024, in light of the reduction in global oil prices.

According to the details, the price of petrol decreased by $1.86 per barrel to $107.16 per barrel, while diesel also saw a reduction of $4.3 per barrel to $104.76 per barrel.

Keeping in view the global trend, the petrol price in Pakistan is expected to see a reduction of Rs. 5 per liter, while the price of high-speed diesel (HSD) may be slashed by Rs. 7.85 per liter.

However, the final decision will be announced by the Finance Division after consultation with Prime Minister Shehbaz Sharif by midnight on April 15, 2024.

During the last fortnightly review, the government increased the price of petrol by Rs. 4.53 per liter to Rs. 293.94 per litre, while the price of high-speed diesel (HSD) was jacked up by Rs. 8.14 per liter to Rs. 290.38 per liter.

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