Advertisement
Categories: BusinessNewsPakistan

Petrol Prices Likely to Drop This Week

Advertisement

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.

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.

Advertisement
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.

Recent Posts

Ecommerce sector urges Govt for tax reduction and level playing field: PEA

The Pakistan eCommerce Association (PEA) has urged the government to reduce the tax burden on…

15 hours ago

Digital Inclusion, Affordability, and the Battle Against Cash Dominate Jazz Leadership’s GSMA Summit Address

From highlighting the need for affordable smartphones and universal internet to pushing for a cashless,…

15 hours ago

Blogging Tops Career Dreams for 42% of Youngsters: Kaspersky Survey

Kaspersky research findings show that 42% of children surveyed from the Middle East, Turkiye and…

4 days ago

Foodpanda adds USD 1.2 bn to Pakistan’s economy: LUMS study

A groundbreaking study conducted by the Lahore University of Management Sciences (LUMS) has revealed that…

4 days ago

Jazz’s Lead in Developing Pakistan’s First Indigenous LLM is Inclusive and Proactive

Jazz has been developing a Large Language Model (LLM) in collaboration with NUST and the…

6 days ago

PDA and Arid Agriculture University Sign MoU to Strengthen Industry-Academia Collaboration in Dairy Sector

Pakistan Dairy Association (PDA) and Pir Mehr Ali Shah Arid Agriculture University, Rawalpindi have signed…

2 weeks ago