To provide relief to inflation hit people of Pakistan ahead of the upcoming federal budget 2023-24 — it is expected that Federal government likely to reduce the price of petroleum products.
According Petroleum division credible sources, The price of petrol is expected to go down by Rs10 per litre effective from 1st June.
The petroleum division officials revealed that the ex-refinery price of petrol is showing a major decline of Rs10-12 for the next fortnight, however, the exchange rate adjustment will allow the government to pass up to Rs10 per litre relief only.
“The ex-refinery price of diesel is showing Rs4-5 per litre decrease for the next review and the government may pass on this impact in the upcoming fortnightly review,” an industry official said.
It is to pertinent that, During the previous price review, the government reduced the price of diesel by Rs30, resulting in a decrease from Rs288 to Rs258 per litre. Similarly, the price of petrol was reduced by Rs12 to Rs270 from Rs282 per litre.
| Product | Prices w.e.f 1.05.2023 | Prices w.e.f 16.05.2023 | Decrease |
| Petrol | Rs282 | Rs272 | Rs12 |
| High-speed diesel | Rs288 | Rs258 | Rs30 |
| Kerosene | Rs176.07 | Rs164.07 | Rs12 |
| Light diesel oil | Rs164.68 | Rs152.68 | Rs12 |
Remember that, The recent decline in global oil prices has provided some relief, but the government is still facing difficulty in keeping prices down.
The new petroleum prices will be announced on May 31.
