Petrol prices expected to drop by 10-20 rupees on November 15

ISLAMABAD: The global oil slump may become a reason for reduction in petrol and high-speed diesel prices, possibly by up to Rs.10 per liter in Pakistan.

The public is closely watching this anticipated change, with many hoping for relief on petroleum products, especially considering the current petrol prices in the international market.

Sources with observing the unstable trend in petroleum prices in Pakistan suggest High-Speed Diesel rates could fall by Rs.10 while Petrol by Rs.8 per liter on November 15, 2023.

In large cities like Karachi, where the petrol price can greatly influence daily expenses due to extraordinary commuting distances, the reduction could provide some economic breathing room to the citizens.

Global oil prices extend decline for fourth consecutive day

Today’s petrol price in Pakistan per liter stand at Rs. 283.38 for petrol and Rs. 304.05 for diesel, after the government decided not change the prices on November 1.

In internaltional oil prices, there as has 4 per cent drop in the price of US West Texas Intermediate Crude Oil, which hit a low at $78 per barrel since July.

However, in a last government review, the changes made contradicted earlier reports. The interim government maintained unchanged petrol prices for the first half of November 2023, leaving many to speculate on the future trajectory of petrol and diesel prices.

Rush to your nearest petrol pump if a price reduction is announced to avoid long queues.