Petrol Price in Pakistan May See a Massive Drop From May 16th

Petrol Price in Pakistan May See a Massive Drop From May 16th

Great news for everyone! The petrol price in Pakistan is expected to go down from May 16th. Amidst the rising inflation, the speculated news is a music to the ears. The huge decrease in the petrol price would provide a great relief to the civilians.

Old VS. Current VS. Expected Petrol Price in Pakistan: A Comparison 

The petroleum market is prone to fluctuations. Just the previous month, the petrol and diesel prices surged up by Rs.5.45 per liter and Rs.8.42 per liter respectively, and later slightly declined on May 1st. Now on May 16th, the prices are expected to go down by Rs.10 to Rs.12 as per the reports of various news media outlets.

The petrol price in Pakistan has tremendously varied over the last few months. Let’s get a clearer picture through this comparison chart below:

Old Price (March)Current Price Expected Price (May 16th) 

Reason for The Decrease in Petrol Price

The reduction in petrol price in Pakistan is a result of an overall drop in prices of global oil market. In the global oil market, the petrol price has slumped to $6.32 per barrel. Hence, the new price is nearly at the $99.93 per barrel mark. Whereas, the diesel price has descended to $4.97 per barrel with the new price around $99.08 per barrel. Lately, the rupee has been stagnant against the dollar at around Rs.278.

Final Takeaway

Although the speculations of the drop in petrol prices will not be confirmed before May 15th, the news is still an exciting one! As we await what May 16th brings, stay tuned with us for more thrilling updates!

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