Saturday, November 2, 2024

Petrol Prices Likely to Drop This Week

Petrol prices in Pakistan are likely to see a slight reduction this week, following a dip in international oil prices.

Currently, regular petrol is being sold at Rs247.93 per litre at pumps across the country. Although the anticipated price cut may not be substantial, it could still offer some relief to consumers who had feared an increase after prices remained unchanged in the last fortnightly review.

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In the earlier announcement, the petrol prices stayed the same, diesel saw a modest hike of Rs5 per litre, which affected transporters and heavy vehicle owners. This time around, reports suggest that petrol prices may decrease by up to Rs3 per litre, while diesel could see a Rs2 per litre cut.

Hi-Octane petrol, often out of reach for many due to its high cost, is currently priced at Rs261.88 per litre. Despite the price gap between regular and Hi-Octane fuel, some experts argue that the quality of Hi-Octane sold in Pakistan is inferior to that in other countries, despite its higher cost.

While these price changes are based on current market trends, the government is expected to make the final decision after considering various factors affecting fuel costs. The new petrol and diesel prices will be announced on Thursday night, taking effect from November 1, 2024, and will stay in place for over two weeks until the next review.

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Zayn
Zayn
Zain is a dynamic business student with a passion for technology that goes beyond the classroom. When he's not immersed in his studies, Zain can be found playing with the latest gadgets, fueled by a genuine curiosity for emerging tech trends. His love for technology extends to his avid reading habits, where he stays updated on the latest advancements and breakthroughs in the tech world. Despite his academic focus, Zain is also an outdoor enthusiast, always ready for an adventure. With several years of experience in writing news, Zain brings a unique blend of business acumen, tech-savviness, and journalistic expertise to any discussion or project.
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