Due to the fall in prices in the international market, prices are also likely to fall in Pakistan from May 16. According to sources, petrol and diesel prices are expected to fall by Rs3.5 to Rs7 per liter, however, the final decision will be taken by the government.
Sources said that based on the current tax rates, the final calculation on May 14 has estimated a decrease of about Rs3.5 in the ex-depot price of petrol, while high-speed diesel (HSD) can be reduced by Rs7 per liter.
The decrease in petrol prices is estimated based on a decrease of about $ 1.5 per barrel in the international price of petrol and about $ 3 per barrel in diesel during the last two weeks.
The current price of ex-depot petrol is Rs252.63 per liter. The current ex-depot price of high-speed diesel is Rs256.64 per litre.
It should be noted that Pakistan revise petroleum product prices fortnightly. In last two month oil prices in the international market witnessed a big drop, however government in Pakistan did not reduce the prices in line with the global decline and instead provided a relief to the masses in electricity prices.
