Next week, it’s anticipated that the prices of MS petrol and High-Speed Diesel (HSD) will go down because international oil prices have fallen by more than $6 per barrel recently.
On May 16, 2024, the federal government is expected to lower the price of petrol by Rs. 12 per liter and diesel by Rs. 9.7 per liter.
This prediction is based on the decline in international prices for HSD and petrol, which dropped by $4.97 and $6.32 per barrel, respectively, in the past two weeks. Notably, the value of the Pakistani rupee remained stable at 278 during this time.
It’s worth mentioning that during the last review of petroleum prices on April 15, the government decreased the price of petrol by Rs. 5.45 per liter and HSD by Rs. 8.42 per liter.
Opinion: A reduction in petrol and diesel prices is welcome news for consumers as it can alleviate financial burdens, especially amid economic uncertainties. Such adjustments in fuel prices can positively impact household budgets and contribute to economic stability.
