Following a record high, petrol prices in Pakistan are set to drop in the first half of May 2024. The federal government is scheduled to review and adjust the prices of petroleum products, including petrol, high-speed diesel, light-speed diesel, and kerosene oil, on April 30th.

The potential drop in petrol prices is attributed to the downward trajectory of international oil prices. Reports indicate that diesel prices in the international market have fallen by $4.3, currently trading at $104.76 per barrel, while petrol prices have decreased by $1.86 per barrel, settling at $107.16 per barrel.

On April 15, the Pakistani government hiked petrol prices by Rs4.53 per litre for the latter half of April 2024, making the new petrol price Rs293.94. The Finance Division notification also mentioned a Rs8.14 per litre increase in the price of high-speed diesel (HSD), which now stands at Rs290.38 per litre.

Expected Petrol Price in Pakistan for May 2024

The petrol price is predicted to drop by Rs7.85 to Rs286.09 per litre, while the diesel price is expected to decrease by Rs3.75 to Rs286.63 per litre.

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