Major Drop in Petrol and Diesel Prices in Pakistan
On Sunday, the federal government announced a significant drop in the prices of petrol and diesel. This is the fourth time in a row that prices have gone down during their regular reviews.
Petrol will now cost Rs. 249.10 per liter, which is a reduction of Rs. 10 per liter. High-speed diesel has also been lowered by Rs. 13.06 per liter, bringing the new price to Rs. 249.69 per liter. These new prices will take effect from September 16.
The decrease in petroleum prices is due to the ongoing drop in oil prices on the international market.
| Products | Existing Prices as of 1/9/24 | New Prices w.e.f 16/9/24 | Change (Rs.) |
|---|---|---|---|
| MS (Petrol) | 259.10 | 249.10 | -10.00 |
| High Speed Diesel (HSD) | 262.75 | 249.69 | -13.06 |
| Kerosene (SKO) | 169.62 | 158.47 | -11.15 |
| Light Diesel Oil | 154.05 | 141.93 | -12.12 |
In the past two weeks, international oil prices fell to below $70 per barrel. During this time, the Pakistani Rupee stayed at 278 against the US dollar.
In the last review of petroleum prices, the government reduced the price of petrol by Rs. 1.86 per liter and lowered the price of high-speed diesel by Rs. 3.32 per liter.
Overall, before today’s new announcement, the prices of petrol and diesel had already dropped significantly. Petrol prices had decreased by a total of Rs. 16.50 per liter, and diesel prices had gone down by Rs. 20.88 per liter in the last three updates.
