KARACHI – Prices of petroleum products are expected to drop for the first two weeks of May 2024, which may be the first relief for those who have been fed up with inflation in recent months.

As Pakistanis await some relief from the government, prices of petrol, diesel, and other POLs are expected to drop in the first half of May 2024.

The expected decline in gasoline comes amid fluctuations in global oil prices. Fuel prices in the international market fell by $4.3 and $1.86 per barrel, respectively, a move that could reduce local prices by Rs 7.85 and Rs 3.75.

Current Petrol Prices in Pakistan

In the second half of April 2024, petrol price is hovering at Rs 293.94 per liter and diesel at Rs 290.38.

Expected Petrol Price in Pakistan from May 1

Petrol is expected to be slashed by Rs7 per litre while Diesel price is expected to move down around Rs4 per litre.

Currently, the international price of gasoline is $107.16 per barrel, and diesel is $104.76 per barrel.

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Reports forecast further declines in petroleum product prices, suggesting possible local adjustments. Meanwhile, volatility in global prices may affect future trends in the next few days.