Petrol price likely to fall by Rs 35 per liter from 16th October

As of October 16, 2023, a notable drop in the price of petrol, estimated at approximately Rs 35 per liter, is on the horizon, aligning with the dynamic shifts in global oil prices.

If this potential reduction materializes, it would result in a significant decrease, bringing the petrol cost down to roughly Rs285 per liter, down from its current rate of Rs323.38.

Furthermore, high-speed diesel (HSD) could also experience a decrease of about Rs16 per liter, potentially lowering it to Rs30 per liter for the next two weeks. However, it is worth noting that the ultimate decision regarding these price adjustments rests with the interim government.

Earlier, on October 1, Pakistan had already taken a step to alleviate the financial burden on consumers by reducing the petrol price by Rs 8 per liter. This move came after two months of consistent price increases, ultimately settling the rate at Rs323.38 per liter.

Simultaneously, the price of high-speed diesel (HSD) had seen a reduction of Rs11 per liter, effectively bringing it down to Rs318.18 per liter. Kerosene oil prices also experienced a decrease, with a reduction of Rs7.53 per liter, consequently lowering it to Rs237.28 per liter.

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