Petrol prices drop: Expected petrol price in Pakistan starting May 1

  

Good News for Pakistani Drivers: Petrol Prices Expected to Drop in May!

There's some welcome relief on the horizon for Pakistani motorists. After a period of rising fuel costs, petrol prices are expected to decrease starting May 1, 2024. This positive development comes thanks to a recent decline in global oil prices.

Factors Behind the Drop

The international oil market has seen a downward trend, with both diesel and petrol prices experiencing significant drops. Diesel prices have fallen by around $4.3 per barrel, while petrol prices have decreased by $1.86 per barrel. This shift in the global market paves the way for a potential reduction in domestic fuel prices in Pakistan.

Anticipated Price Adjustments

Industry experts predict a decrease in the prices of various petroleum products, including petrol, high-speed diesel (HSD), light diesel oil (LDO), and kerosene oil. Estimates suggest a potential drop of Rs. 4.88 per liter for petrol and Rs. 7.37 per liter for HSD. This could bring the price of petrol down to around Rs. 289.06 per liter and HSD to Rs. 283.01 per liter, offering some much-needed financial relief to consumers.

Official Announcement Pending

It's important to note that these are anticipated adjustments. The Oil and Gas Regulatory Authority (OGRA) is expected to present its official recommendations to the Finance Division on April 30, 2024. Once approved, the revised prices will be implemented across the country.

A Sigh of Relief for Pakistanis

This potential decrease in petrol prices comes as a welcome change for Pakistanis grappling with inflation and rising living costs. A reduction in fuel prices will not only benefit motorists but will also have a positive impact on transportation costs for goods and services, potentially leading to a decrease in overall inflation.

Stay tuned for further updates as we approach the official announcement from OGRA on April 30th. Hopefully, these predictions hold true, and Pakistani consumers will see a drop in petrol prices come May 1st!