In the upcoming fortnightly pricing update, the government anticipated to announce a significant relief for the consumers, with a likely reduction of Rs. 13 and Rs. 15 per liter in the prices of petrol and diesel.
Significant Drop In Petrol and Diesel Likely To See
The significant drop in the price of petroleum and diesel products internationally over the past two weeks is to blame for the predicted decline.
Additionally, the value of the local currency has not changed, with a weighted average price of about PKR 284.33 for every USD.
According to price estimates through December 8, the price of petrol and diesel internationally has decreased by approximately 5.6% and 5.44%, respectively, to $100.05 and $94.95 per barrel.
It is important to keep in mind that there is still one week until the next pricing update.
So these prices’ future volatility will mostly depend on changes in the exchange rate and the direction of the world market.
Previous Change
Recall that during the previous two weeks, the government reduced the price of HSD by 7 rupees to Rs. 289.71 per litre while maintaining the price of gasoline at Rs. 281.34.
New prices will be announced by the government on December 15, 2023, at midnight.
To read our blog on “Petrol price remain unchanged but HSD price slashed by Rs. 7,” click here.
