The price of MS petrol and High-Speed Diesel (HSD) is predicted to decrease next week as a result of the recent global oil price collapse of more than $6 per barrel.
On May 16, 2024, the federal government is anticipated to lower the price of gasoline and diesel by Rs. 12 per litre and Rs. 9.7 per litre, respectively.
The optimistic prediction is based on the fact that during the last two weeks, worldwide prices for gasoline and HSD have dropped by $6.32 and $4.97 a barrel, respectively. Notably, during the time under consideration, the value of the Pakistani rupee was steady at 278.
In light of the aforementioned, it is anticipated that the cost of HSD in Pakistan will soon drop to Rs. 272.26 a litre. MS prices are predicted to drop to Rs. 276.49 a litre in the interim.
It is important to note that the government lowered the price of gasoline by Rs. 5.45 per litre at the most recent weekly review of petroleum pricing on April 15. The cost of a litre of high-speed diesel was reduced by Rs. 8.42.
