Petrol and Diesel Prices Drop Across Pakistan

Jawad

30 Sep 2024

152

Petrol and Diesel Prices Drop Across Pakistan

The federal government of Pakistan has adjusted the petrol and diesel prices for the next fortnight. According to a notification by the Finance Ministry, the price of petrol has been reduced to Rs. 247.03 per litre from the previous rate of Rs. 249.10, reflecting a decrease of Rs. 2.07 per litre. Similarly, the new rate of diesel is Rs. 246.29 per litre, down from Rs. 249.69 per litre, with a reduction of Rs. 3.40 per litre.

Light Diesel Oil (LDO) has undergone the most significant price cut, with a decrease of Rs. 1.03 per litre, bringing the price down to Rs. 140.90 from the previous Rs. 141.93. Similarly, kerosene oil has seen a reduction of Rs. 3.57 per litre, with the new price set at Rs. 154.90, compared to the previous Rs. 158.47. These new rates are effective from October 1, 2024

Petroleum Type	Old Price	New Price	Difference
Petrol	249.10 PKR	247.03 PKR	-2.07
High Speed Diesel (HSD)	249.69 PKR	246.29 PKR	-3.40
Light Diesel Oil (LDO)	141.93 PKR	140.90 PKR	-1.03
Kerosene Oil	158.47 PKR	154.90 PKR	-3.57

Early Predictions on Price Adjustments

Prior to the official announcement, media reports suggested a potential reduction of Rs. 1 per litre for petrol and Rs. 3 per litre for diesel. However, there was also speculation that petrol prices might remain unchanged. The final decision was made on September 30, 2024, after the finance minister consulted with the prime minister.

Previous Fuel Price Reductions

Earlier in September, the petrol price in Pakistan was Rs. 249.10 per litre, and high-speed diesel was priced at Rs. 249.69 per litre. Additionally, light diesel cost Rs. 141.93 per litre, and kerosene was priced at Rs. 158.47 per litre. On September 15, petrol prices were reduced by Rs. 10 per litre, and high-speed diesel saw a significant drop of Rs. 13.06 per litre.

Global Oil Prices and Their Impact

The decline in global crude oil prices has been a significant factor in the recent fuel price adjustments in Pakistan. Reports suggest that Saudi Arabia may increase its oil production in December, which could further reduce international oil prices. This would benefit Pakistan, which imports a large portion of its crude oil, helping to ease the pressure on fuel costs domestically.

Anticipated Relief for Consumers

As consumers and businesses await the next announcement, there is hope for continued reductions in fuel prices. A decrease in petrol prices would provide financial relief to citizens and positively impact Pakistan's economy by lowering transportation and production costs.

fuel price drop Petrol Price Decrease Diesel Price Cut Petroleum Price Update New Fuel Rates Kerosene Price Reduction Lower Diesel Rates Fuel Cost Relief Light Diesel Oil Pakistan Fuel Prices

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