Tag: Petrol and Diesel Prices

expected petrol and diesel price in pakistan

Petrol and diesel prices are expected to decrease from June 1

The oppression of inflation is good news for the people. Petrol and diesel prices in Pakistan are likely to decrease again from June 1, 2024. Oil prices fell to a 4-month low in the global market

From June 1, 2024, the price of petrol is expected to decrease by Rs. 4, while the price of diesel is expected to decrease by Rs. 3.50 paise per liter. The decision will be made on the night of May 31.

It is too early to say anything about the prices and OGRA will work on the prices of petroleum products on May 31.

Today Petrol Prices in Pakistan

It should be remembered that the government announced a major reduction in the prices of petroleum products on May 15, announcing a reduction in the price of petrol by 15 rupees 39 paisa and diesel price by 7 rupees 88 paise per liter.

Earlier on April 30, the government had announced a reduction in the price of petrol by Rs 5.45 per liter and diesel price by Rs 8.42 per litre.

petrol price

Petrol And Diesel Prices Are Likely To Cheaper From November 15

Petrol And Diesel Prices

The government has indicated the possibility of making petrol and diesel cheaper in the country. According to media reports, the prices of petrol and high-speed diesel in Pakistan may be reduced by 8 to 10 rupees per liter from November 15 due to the fall in oil prices in the global market.

Currently, the price of crude oil in the world market has decreased by 4% since July to reach the lowest level of 78 dollars per barrel. Therefore, it is expected that after the reduction in prices in the global market, the people of Pakistan will also get relief on petroleum products.

It should be noted that on November 1, the federal government had announced to maintain the prices of petroleum products. In which it was said that there will be no change in petrol and diesel prices from November 1 and the current price of petrol and diesel will remain unchanged for the next 15 days.

Expected Petrol Price In Pakistan On 1st November 2023

Petroleum Price In Pakistan Today

Currently, the price of petrol in the country is Rs 283.38 per litre. The price of high speed diesel is Rs 303.18 per litre. The price of kerosene was reduced by Rs 3.82 per liter on November 1, the new price is Rs 211.3 per litre. On November 1, the price of light diesel oil was also reduced by Rs 3.40 paise per liter after which the new price of light diesel has been fixed at Rs 189.46 per litre.

Gas Cylinder Price In Pakistan

Similarly, on November 1, the Oil and Gas Regulatory Authority announced a reduction in the price of an 11.8 kg domestic cylinder of LPG by Rs 117.47. According to the notification issued by OGRA, the price of LPG has been increased by Rs 10 per kilo from November 1, resulting in a reduction of Rs 117 in the price of a domestic cylinder and Rs 452 in the price of a commercial cylinder.

today Petrol Price In Pakistan - Expected fuel prices

Petrol and Diesel Prices are Likely To Increase From November 1

The price of petrol in Pakistan is likely to increase by Rs 3.55 per litre. While the price of diesel may increase by 0.82 rupees per liter. On October 16, the caretaker government had reduced the price of petrol by Rs 40 and diesel by Rs 15 per litre.

However, due to the increase in oil prices at the global level, there is a possibility of an increase in the prices of petrol and diesel in Pakistan as well. It should be noted that international petrol and diesel prices have increased by $3.14 and $1.14 per barrel respectively. On the other hand, due to the tension in the Middle East in the global market, rising oil prices have stopped.

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According to foreign media reports, the price of British crude oil fell below the level of 90 dollars and the price of American crude oil fell below the level of 84 dollars per barrel after fears of a decrease in the supply of oil in the world market.

Oil prices fell by more than two percent. It has been reported that the price of British crude oil per barrel is trading at the level of 88 dollars while the price of American crude oil is trading at the level of 83 dollars. It should be noted that until a few days ago, the price of crude oil in the world market reached the level of 80 dollars per barrel.

However, due to the tense situation in the Middle East, there were fears that the supply of oil in the world market would be affected. After which oil prices increased significantly and by last week the prices went above the level of 90 dollars per barrel.

It should also be remembered that until a few weeks ago, due to the balance of oil supply and demand in the world market, the price of oil per barrel had fallen to the level of 65 dollars.

However, Saudi Arabia announced a reduction in oil production, due to which the prices of crude oil in the world market started to fly high again. Experts were predicting that by the end of this year, the price of oil per barrel could go up to 100 dollars.

petrol price

Petrol and Diesel Prices Are Likely To Decrease In May

Petrol and Diesel Prices

Ogra has proposed a reduction in petrol and diesel prices in the month of May.

According to petroleum division sources, the price of petrol can be reduced by Rs 7 to 10 per liter while the price of diesel is proposed to be reduced by Rs 8 per liter. OGRA has sent a summary of prices of petroleum products to the government.

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Finance Minister Ogra will consult with the Prime Minister on the recommendations while the final decision on the prices of petroleum products will be taken today.

The new prices of petroleum products for the next 15 days will be applied after 12 pm on May 15. It should be noted that in the last 14 days, the price of crude oil in the Brent oil market had reached 77.44 dollars per barrel.