ISLAMABAD: Pakistan is set to see another drop in petroleum prices starting October 1, 2024. According to reports, Prime Minister Shehbaz Sharif is expected to announce a decrease of Rs3 per liter for petrol and diesel prices for the first fortnight of October.
This move comes after a significant decline in global oil rates, with Brent crude oil prices dropping by 48 cents to $72.27 and US crude oil prices decreasing by 37 cents.
The new prices are expected to be announced on September 30 and will come into effect from October 1, 2024. If implemented, the price of petrol would drop to Rs246.10 per liter from Rs249.10.
The government has recently announced a significant reduction in fuel prices for the second half of September 2024. Petrol prices have been slashed by Rs10 per liter, while diesel prices have been cut by Rs13.6 per liter. But that’s not all – kerosene oil will become cheaper by Rs11.15 per liter, and light diesel oil will see a reduction of Rs12.12 per liter.
| Petroleum Products | New Prices |
|---|---|
| Super Petrol | 249.10 |
| Diesel | 249.69 |
This development is a welcome relief for consumers, especially after the previous reduction in fuel prices effective from September 16, where petrol prices were decreased by Rs10 per liter and high-speed diesel (HSD) was reduced by Rs13.6 per liter.
If the government approves a Rs3 per liter cut in petrol and diesel prices, the new rates would be Rs246.10 and Rs246.69 per liter, respectively.
The final decision, in this regard, will be taken by the government by the end of September 2024.
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