Petrol and diesel prices likely to go down by Rs10, sources

Petrol and diesel prices in Pakistan are likely to go down by Rs10 for the last 15 days of January 2024.

According to the sources, petrol price is estimated to decrease by about Rs9-10 per litre on Jan 15 for the next fortnight due to a combination of lower international prices, exchange rate gains and a decline in premium.

High-speed diesel (HSD) price is also expected to become cheaper by around Rs2 per litre.

Sources pervy to the matter suggest the POL prices in the country will be affected as the prices of all petroleum products have declined in the international market over the past fortnight.

Furthermore, the local currency has also gained against the US dollar while the premium on procurement of petrol had also been reduced.

As reported, the premium paid by Pakistan State Oil (PSO) for securing product cargoes remained unchanged for HSD but, last month it dropped to $7.50 from $10.5 per barrel.

The care­taker government kept the prices of petrol and high-speed diesel (HSD) unchanged for the first fortnight of the new year.

The finance ministry announced to keep the per-litre price of petrol remain unchanged at Rs267.34 and that of HSD at Rs276.21 until mid-January.