Following a drop in global oil prices and a strengthening of the Pakistani rupee against the US dollar, the caretaker administration announced a decrease in the cost of petroleum goods.
After a 40 rupee per litre price reduction, the new price of gasoline will be Rs. 283.38. Similar to that, high-speed diesel will now cost Rs. 303.18 following a Rs. 15 per litre reduction.
The dip in pricing is mostly attributable to the fall in the price of crude oil internationally; however, prices are once again rising as a result of the Middle East conflict. The rupee’s strengthening, which has increased by 10.6 percent or Rs. 29.5 versus the dollar since September 5, 2023, is another contributor in the drop in fuel costs.
The interim government decreased the cost of gasoline by Rs. 8 per litre and the cost of high-speed diesel by Rs. 11 during the most recent fortnightly review of petroleum pricing.
The interim government had increased the price of gasoline by Rs. 58.43 per litre and the price of high-speed diesel by Rs. 55.84 per litre during the previous three fortnightly reviews, so this came as little of a comfort.
