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Petrol Prices likely to Decrease Again in Pakistan from June 01, 2024

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The latest petrol prices in Pakistan from June 1 have been announced.  On June 1, there’s a possibility of a decrease in petrol and diesel prices, as indicated by sources familiar with the matter. They suggest that petrol prices may see a drop of around Rs6.50 to Rs7.50 per liter, while diesel could potentially decrease by approximately Rs6.25 per liter.

These projections stem from recent declines in global oil prices, with petrol and diesel prices per barrel decreasing by 3.25 dollars and 2.10 dollars, respectively, over the past 15 days. Presently, petrol is priced at Rs273.10 per liter, while diesel stands at Rs274.08 per liter. Following domestic oil distribution calculations, it’s estimated that petrol prices may reduce by Rs7.25 per liter and diesel by Rs6.25 per liter. Despite a 10 paisa decrease in the value of the rupee against the US dollar, petrol prices could potentially see a Rs7 per liter reduction.

The global market price reductions indicate a favorable trend, with petrol and diesel prices per barrel dropping to approximately 98.27 dollars and 97 dollars, respectively. These developments could lead to significant reductions in fuel prices, providing relief to consumers nationwide.

Petrol Prices likely to Decrease from June 01, 2024

The Ministry of Finance is likely to lower diesel and petrol prices in its upcoming review, responding to the downward trend in international oil prices. Diesel prices are expected to drop for the third time in a row by PKR 6.0 per liter, reaching PKR 268.08 per liter. Similarly, petrol prices are forecasted to decrease by PKR 6.9 per liter, returning to levels last seen in February 2024.

These adjustments are based on anticipated reductions in global oil prices, as indicated by FRIM Ventures in a recent social media update. The government will officially announce these revisions on May 31, 2024, with the changes set to take effect from June 01, 2024, until June 15, 2024.

New Petrol Prices

Fuel Type Current Price (Rs/Liter) Expected Decrease (Rs/Liter)
Petrol 273.10 6.50
Diesel 274.08 7.50
Fetch Pakistan Team
Fetch Pakistan Teamhttps://www.fetchpakistan.com
Fetch Pakistan focus on technology and telecom, we leverage our expertise to provide comprehensive insights across various sectors including business, automotive industry, technology, startups, sports, education, news, and more

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