Petrol Prices Likely to See Reduction From May 1

The inflation burdened masses will finally get a relief as Petrol Prices in Pakistan are expected to decline during the next fortnight from 1 May 2023. However, the final decision will be taken in consultation with the Prime Minister on 30 April 2023.

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According to media reports, the Petrol Price in Pakistan are expected to see a reduction of Rs. 4.5 per litre from next month, which is going to provide some form of relief to the inflation-hit population.

Meanwhile, the Diesel Price in Pakistan is expected to reduce by Rs. 6 per litre, which will help bring down the inflationary impact and provide a relief to farmers as the commodity is mainly used in transportation and agriculture sector.

In the last review, the Federal Government ended up increasing the Petrol Prices in Pakistan by up to Rs. 10 per litre, citing increase in petroleum prices in the international market and exchange rate variation as the main reason behind the decision.

The Price of Petrol in Pakistan was increased by Rs. 10 per litre to Rs. 282 per litre, while the Price of Kerosene was jacked up by Rs. 5.78 per litre to Rs. 186.07 per litre. Meanwhile, the price of High-Speed Diesel (HSD) and Light Diesel Oil (LDO) remained unchanged at Rs. 293 and Rs. 174.68 per litre, respectively.