Saturday, November 23, 2024

Fuel Prices Likely to Drop from August 1st

The price of petroleum products in Pakistan is expected to decrease from August 1, 2024, for the first half of the month, pending government approval.

Industry sources indicate a potential reduction of Rs 5.50 per litre for petrol, bringing the price down to Rs 270.10 per litre from the current Rs 275.60.

- Advertisement -

Similarly, high-speed diesel (HSD) may see a significant reduction of Rs 11.06 per litre, lowering its price to Rs 272.57 from Rs 283.63 per litre. Kerosene oil is projected to decrease by Rs 5.84 per litre, setting the new price at Rs 177.87 per litre, while light diesel oil (LDO) could drop by Rs 5.07 per litre, resulting in a new price of Rs 161.18 per litre.

Read also: Govt to Deregulate Petroleum Prices, Granting Oil Companies Pricing Power

The proposed price cuts are influenced by various factors, including a recent decline in global oil prices. The price of a barrel of Brent oil has decreased to $79.35 on the London ICE exchange, while the price of Light oil on the New York NYMEX exchange has fallen to $75.35.

The final decision will depend on the government’s assessment of the financial implications for the energy sector.

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

 

 

Latest stories

-Advertisement-

Highlights of the Week
Related

Maulana Tariq Jamil Criticizes Fatwa Declaring VPNs as ‘Un-Islamic’

Renowned Islamic scholar Maulana Tariq Jamil has voiced his...

COAS Visits IDEAS-2024, Lauds Global Participation

Chief of Army Staff (COAS) General Syed Asim Munir...

Stepping forward for children’s health, AKUH celebrates World Children’s Day with a series of vibrant festivities

The Aga Khan University Hospital (AKUH) marked World Children’s...

Shahrah-e-Faisal to Remain Close for Traffic on Saturday and Monday

One of Karachi’s busiest roads, Shahrah-e-Faisal, will be closed...
-Advertisement-
Join our Whatsapp Group for Exclusive News!
Join our Whatsapp Group for Exclusive News!