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Monday 08 July, 2024
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Petrol price in Pakistan likely to go decrease from April 1

BY Faizan Ahmed Mar 29, 2023. 10:05 pm UPDATED: Mar 29, 2023. 10:05 pm

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Petroleum product prices in Pakistan are anticipated to fall beginning April 1 due to a drop in worldwide crude oil prices, according to Geo News.

According to oil marketing companies’ (OMCs’) projections, the price of diesel is likely to fall by Rs15-20 per litre, while the price of petrol is anticipated to fall by Rs4-5 per litre.

However, well-placed industry insiders have stated that the Finance Division may leave the price unchanged.

The federal government increased the price of fuel to Rs272 per gallon in its most recent fortnightly bulletin.

The Finance Division ascribed the price rise to the depreciation of the Pakistani rupee against the US dollar as well as an increase in Platts Singapore rates.

MS (petrol) prices have risen by Rs5 per litre, while hi-speed diesel prices have risen by Rs13 per litre.

The price of paraffin oil was maintained at Rs2.56 by lowering the government’s dues on it. Similarly, by adjusting the government dues, the price of light diesel oil was maintained steady.

The revised prices went into force on March 16 and will be in operation until March 31.

On March 31, the Finance Division will reveal the revised prices, which will be in effect for the next 15 days.

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