Petrol Price in Pakistan Dropped Massively by Rs. 15.39 Now!

You know what? The government has lowered the petrol price in Pakistan again in May 2024! And that’s the news you want to hear after reading our blog about the expected drop in gasoline prices. Now the price of petrol has dropped by Rs. 15.39, and diesel by Rs. 7.88. The decline in global oil prices is a major contributor to this decline. Let’s take a look at the latest petrol price in Pakistan and why it has come down.

Here are the latest prices, effective May 16, 2024.

Petrol Price in Pakistan Today

Product	Old Price (Rs.)	New Price (Rs.)	Difference (Rs.)
Petrol	293.84	273.10	-15.39
High Speed Diesel (HSD)	281.96	274.08	-7.88

If you want to know what the price of petroleum products per liter is in Pakistan, you will find this information useful.

Petrol Price in Pakistan (OGRA Notification)

Petroleum Levy in Pakistan

This is the current (w.e.f. Apr 16, 2024) tax regime:

Product	PL (Rs.)	GST (Rs.)	IFEM (Rs.)	OMC (Rs.)	DC (Rs.)	Ex Refinery (Rs.)
Petrol	60	0	6.65	7.87	8.64	210.68
High Speed Diesel	60	0	3.41	8.26	8.64	210.07
Kerosene Oil	–	–	–	–	–	–
Light Diesel	–	–	–	–	–	–

Glossary of Terms

• PL: Petroleum Levy or Petroleum Development Levy
• GST: General Sales Tax
• IFEM: Inland Freight Equalization Margin
• OMC: Oil Marketing Companies Margins
• DC: Dealers Commission
• Ex-Refinery: Price per liter as sold by the refinery

Analysis (Petrol Price in Pakistan)

Remember when we recently said that gasoline prices are likely to drop due to the drop in global oil prices? OK. The price of a barrel in the OPEC fell from $87.83 to $83.08 in the last 15 days. Thus, the government passes benefits to local consumers.

Also, if the crisis in the Middle East worsens, there is a possibility of an increase in global oil prices at any time, which may lead to an increase in prices in Pakistan.

If you have any thoughts on this, please share them in the comments below.

Also check: LPG Price in Pakistan Today