Down by Rs 8.03/litre petrol prices wef May 1

ISLAMABAD (April 25) – Fortnightly rates of petrol and High-Speed Diesel (HSD) are expected to be slashed by up to Rs 8.03 per litre due to a decline in international oil prices and premium rates, with effect from May 1, 2024.

The federal government is expected to decrease the price of petrol by Rs. 4.88 per liter and HSD by Rs. 7.37 per liter each on May 1, 2024. The rate of kerosene oil is expected to be slashed by Rs 8.03 per litre, and light diesel oil (LDO) by Rs 5.37 per litre.

The premium rate on petrol has fallen to $9.60 per barrel and remains stagnant at $6.50 per barrel for HSD.

The Oil and Gas Regulatory Authority (OGRA) is scheduled to submit its recommendations to the Finance Division for petroleum product prices on April 30, 2024, for consideration. The expected price of petrol is Rs 289.06 instead of Rs 293.94 per litre, and the new price of HSD will be Rs 283.01, down from Rs 290.38 per litre. The price of kerosene oil is expected to decrease from Rs 193.08 to Rs 185.05 per litre, and LDO price is likely to drop to Rs 168.97 from Rs 174.34 per litre.

In the last fortnightly review of petroleum prices on April 15, the federal government raised the price of petrol by Rs. 4.53 per liter, and the price of HSD was increased by Rs. 8.14 per liter. ends

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