Govt Likely to Decrease Petrol, Diesel Prices Next Week

MS petrol and High-Speed Diesel (HSD) prices are expected to fall next week due to a decline in international oil prices. The federal government is expected to decrease the price of petrol and diesel by Rs. 3.75 per liter and Rs. 7.85 per liter each on May 1, 2024. The upward forecast is based on international prices for HSD, petrol, and crude oil, which slid in the current fortnight to $104.76, $107.16, and $86 per barrel, respectively. Notably, the Pakistani rupee remained stable at 278 during the period in review. Considering the above, it is expected that the price of HSD is poised to decrease to Rs. 282.53 per liter in Pakistan. Meanwhile, MS rates are expected to fall to Rs. 290.19 per liter. It is pertinent to mention here that at the last fortnightly review of petroleum prices on April 15, the government increased the price of petrol by Rs. 4.53 per liter. The price of high-speed diesel was increased by Rs. 8.14 per liter.