Petrol, Diesel Prices Likely to Drop in Pakistan from May 16 – Major Price Cuts Expected

Following a decline in global oil prices, diesel and petrol prices in Pakistan are also expected to come down starting May 16. According to sources, petrol and diesel prices may decrease by Rs3.5 to Rs7 per liter, although the final decision rests with the government.

Preliminary estimates based on current tax structures suggest that petrol prices could drop by around Rs3.5 per liter, while high-speed diesel (HSD) may see a more significant reduction of up to Rs7 per liter.

These potential adjustments are attributed to a fall of approximately $1.5 per barrel in international petrol prices and around $3 per barrel in diesel prices over the past two weeks.

Currently, the ex-depot prices of petrol in Pakistan stands at Rs252.63 per liter, while HSD is priced at Rs256.64 per liter.

It’s important to note that Pakistan reviews and adjusts fuel prices every two weeks. Despite a substantial decline in international oil prices over the past two months, the government has held off on lowering local fuel prices, opting instead to ease the burden on citizens by reducing electricity tariffs.

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