ISLAMABAD: Prices for petrol and high-speed diesel (HSD) are expected to decrease by Rs2 to Rs3 per litre from November 1, due to a slight decline in global oil rates.
According to informed sources, international market prices for petrol and HSD fell by approximately $1.5 and $2.5 per barrel over the past two weeks, potentially bringing local prices down by Rs3 and Rs2.30 per litre, respectively, depending on exchange rate adjustments and current tax rates.
With the government’s notification pending, new prices are projected to take effect on November 1. Petrol’s average international price recently dropped from around $77.5 to $76 per barrel, while HSD fell from $86.5 to $84 per barrel.
Currently, the ex-depot price for petrol is Rs243.03 per litre and Rs251.29 per litre for HSD. Earlier, on October 15, the government increased diesel prices by Rs5 per litre, keeping petrol at Rs247.03 per litre amid stable global trends.
Petrol mainly impacts budgets of private transport users, while HSD fuels most of the transport sector, including trucks and agricultural vehicles, often influencing the cost of essential goods.
Story by Khaleeq Kiani
