Petroleum prices in Pakistan are expected to decline from May 16, following a drop in international oil prices. According to sources, petrol and diesel prices may decrease by Rs3.5 to Rs7 per liter, though the final decision will be made by the government.
Preliminary estimates based on current tax structures suggest a Rs3.5 per liter reduction in petrol, while high-speed diesel (HSD) could see a cut of around Rs7 per liter. These estimates are based on a recent dip in global fuel prices — about $1.5 per barrel for petrol and $3 per barrel for diesel over the past two weeks.
Currently, the ex-depot price of petrol stands at Rs252.63, and HSD at Rs256.64 per liter. It’s important to note that Pakistan reviews fuel prices every 15 days.
Despite a significant drop in international oil prices over the last two months, the government has so far refrained from lowering fuel prices in line with the global trend. Instead, it chose to offer relief to the public through reduced electricity tariffs.
