Petrol prices in Pakistan are experiencing a further decrease starting May 16, attributed to a recent easing of inflation following the establishment of a stable federal government.
The government has undertaken measures to provide relief to the masses, marking the second reduction in petrol prices within a month pending approval from the authorities.
While the Oil and Gas Regulatory Authority (Ogra) has yet to submit a summary to the Finance Division, indications suggest that it will propose a reduction in petrol and diesel rates for the second half of May 2024 in Pakistan.
Experts point to a significant drop in international oil prices, indicating that the government is likely to pass on these benefits to the public in the forthcoming review on May 15.
As of the current rates until May 15, petrol is priced at Rs288.49 per liter, and diesel at Rs281.96 per liter in Pakistan.
Anticipated petrol prices from May 16 are expected to be Rs276.49 per liter for petrol and Rs272.26 per liter for diesel, with Ogra reportedly recommending a reduction of Rs12 per liter for petrol and Rs9.70 per liter for diesel. However, the final decision rests with the government.
