In a recent development, the petrol price in Pakistan has been reduced by Rs5.45 per litre, bringing it down from Rs293.94 to Rs288.49 for the next fortnight. This adjustment aligns with the recommendations of the Oil and Gas Regulatory Authority (Ogra). Additionally, the price of diesel has also been slashed by Rs8.42 per litre to Rs281.96.
Latest Petrol Price in Pakistan
| Product | Existing Price (Rs) | New Price (Rs) | Change (Rs) |
|---|---|---|---|
| (MS) Petrol | Rs293.94 | Rs288.49 | -5.45 |
| High Speed Diesel (HSD) | Rs290.38 | Rs281.96 | -8.42 |
These new fuel prices will come into effect from midnight on May 1, 2024, as per an official notification issued by the Finance Division.
The Finance Division stated that the reduction in petroleum product prices is attributed to the decline in crude oil prices in the global market over the past two weeks. Ogra has computed the consumer prices based on the fluctuations in the international market.
It’s worth noting that earlier on April 15, the government had increased petrol and diesel prices by Rs4.5 and Rs8.1 per litre, respectively.
Every 15 days, the government revises petroleum product prices in response to global oil price changes and local currency value fluctuations. These adjustments take into account factors such as expected fuel consumption, supply costs of the Pakistan State Oil, and monthly tax targets.
