Petrol prices in Pakistan are expected to decrease starting November 1 due to a recent dip in global oil prices. Over the past two weeks, international fuel prices have fallen by $1.5 and $2.5 per barrel, creating an opportunity for local price relief.
Considering the current exchange rate and tax rates, the government may reduce petrol and high-speed diesel (HSD) prices by Rs3 and Rs2.30 per liter, respectively.
On the global stage, petrol prices dropped from $77.5 to $76 per barrel, while HSD prices decreased by $2.5 to $84 per barrel.
Previously, on October 15, the government raised diesel prices by Rs5 while keeping petrol prices stable at Rs247.03 per liter through the end of the month. Prices for light diesel and kerosene oil have remained unchanged.
Additionally, the federal government is contemplating an increase in profit margins for oil companies and petrol dealers. The proposed adjustments would raise the margin for oil companies by Rs1.35 to Rs9.22 per liter, and for petrol dealers by Rs1.40 to Rs10.04 per liter.