By Ahsan Mughal
KARACHI: Petrol and diesel prices in Pakistan are expected to decrease in November, following a decline in global crude oil rates, which may bring some relief to the inflation-stricken public. Officials anticipate a reduction of Rs2 to Rs3 per litre for petroleum products during the upcoming 15-day period starting November 1, primarily due to recent shifts in global pricing.
The average cost of petrol per barrel has decreased from $77.5 to $76, while high-speed diesel prices have dropped from $86.5 to $84. When accounting for current exchange rates and tax levels, petrol prices could potentially fall by up to Rs3 per litre, and diesel prices might see a decrease of around Rs2.30 per litre.
Import premiums for both fuels have remained stable at $8.7 and $5 per barrel, respectively. Currently, ex-depot petrol prices stand at Rs247.03 per litre, with diesel priced at Rs251.29 per litre. These anticipated adjustments aim to provide some economic respite, alleviating the effects of high inflation on consumers.
Earlier, on October 15, the government raised the price of high-speed diesel (HSD) by Rs5 per litre, attributing the increase to fluctuations in the international market. However, the price of petrol remained unchanged at Rs247.03 per litre for the following two weeks, with no modifications announced for light diesel oil or kerosene.
