The upcoming month promises relief for consumers as petrol and High-Speed Diesel (HSD) prices in Pakistan are anticipated to decrease by significant margins. International oil price reductions and stable premium rates have paved the way for these adjustments, set to take effect on May 1.
The federal government is poised to lower petrol prices by Rs4.88 per liter and HSD prices by Rs7.37 per liter. Kerosene oil rates are expected to drop by Rs8.03 per liter, while light diesel oil (LDO) prices are likely to decrease by Rs5.37 per liter. Notably, the premium rate for petrol stands at $9.60 per barrel and remains steady at $6.50 per barrel for HSD.
The Oil and Gas Regulatory Authority (OGRA) is on track to present its recommendations to the Finance Division regarding petroleum product prices by April 30. This forthcoming adjustment follows the previous fortnightly review, where petrol prices rose by Rs4.53 per liter, and HSD prices increased by Rs8.14 per liter on April 15.
Addressing concerns over smuggled fuel, the Petroleum Division has engaged with relevant authorities to curb the influx of Iranian oil into the market. The Oil Companies Advisory Council (OCAC) has emphasized the detrimental impact of such smuggling on investment opportunities and the oil supply chain, urging swift action to mitigate these challenges.
Story by Zafar Bhutta
