ISLAMABAD, October 28, 2024: Petrol prices in Pakistan are likely to decrease from November 1, following a drop in global oil prices.
Over the last two weeks, the cost of petrol in the international market has fallen by $1.5, now priced at $76 per barrel, while high-speed diesel (HSD) has seen a decline of $2.5, bringing it to $84 per barrel.
In light of these changes, the government is expected to lower petrol prices by Rs3 per liter and HSD prices by Rs2.30 per liter, taking into account current exchange rates and tax structures.
Earlier this month, the price of diesel was increased by Rs5, while petrol remained unchanged at Rs247.03 per liter. The prices for light diesel and kerosene oil have also stayed the same.
Additionally, discussions are underway regarding an increase in profit margins for oil companies by Rs1.35, raising it to Rs9.22 per liter, and for petrol dealers by Rs1.40, which would bring their margin to Rs10.04 per liter.