For the third consecutive time, the federal government is expected to reduce petrol prices in Pakistan, effective June 2024.
Reports indicate that the ongoing Middle East crisis has led to a downward trend in international petrol prices, likely resulting in a reduction of Rs4 per litre for petrol. Diesel prices are also anticipated to decrease by Rs3.5 per litre.
The government is scheduled to announce the revised tariff for petroleum products on May 31. These new prices will come into effect on June 1 and will be applicable for the first two weeks of the month.
Prime Minister Shehbaz Sharif will make the final decision on petroleum prices in Pakistan, following the recommendations submitted by the Oil and Gas Regulatory Authority (Ogra).
Current Petrol Prices in Pakistan
Fuel Type Price
Petrol Rs273.10
High-speed diesel Rs274.08
Expected Petrol Prices from May 31
Fuel Type Price
Petrol Rs269.10
High-speed diesel Rs270.58
The anticipated reduction in petrol and diesel prices is a response to the international market’s fluctuations, offering some relief to consumers amidst economic challenges. The government continues to monitor the global situation closely to make necessary adjustments in line with market trends.
