The latest update on petrol prices in Pakistan, effective from May 16, 2024, reflects a reduction of Rs15.39 per liter. This adjustment, mandated by the federal government, brings the price of petrol down to Rs273.10 per liter from its previous rate of Rs288.49. The recommendation for this decrease came from the Oil and Gas Regulatory Authority (OGRA). Similarly, the price of high-speed diesel has also been reduced by Rs7.88 per liter, now standing at Rs274.08 from its previous rate of Rs281.96. The Finance Ministry formally announced these adjustments, indicating a decrease of Rs15.39 for petrol and Rs7.88 for diesel.
New Petrol Prices in Pakistan from 16 May 2024
There’s anticipation in Islamabad that petroleum prices may witness another decline starting May 16, attributed partly to recent improvements in inflation and the government’s stabilization efforts. If realized, this would mark the second consecutive month of petrol price reduction. Although formal communication from OGRA to the Finance Division is pending, initial reports suggest the possibility of recommending lower petrol and diesel prices for the latter half of May 2024.
Petroleum Prices in Pakistan Today
| Petroleum Type | Old Price | New Price | Difference |
| Petrol | PKR 288.49 | PKR 273.10 | -15.39 |
| High Speed Diesel (HSD) | PKR 281.96 | PKR 274.08 | -7.88 |
| Light Diesel Oil (LDO) | PKR 166.86 | PKR 166.86 | – |
| Kerosene Oil | PKR 186.86 | PKR 186.86 | – |
Petrol Price In Pakistan Reduced By Rs15.39 Per Litre
As per a statement by the Finance Division, consumer prices have been determined by OGRA based on international market fluctuations. A notification from the Finance Division confirms that these revised fuel prices will take effect from May 16, 2024.
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Petrol Price in Pakistan 16 May 2024
| Fuel Types | Price |
| Petrol | Rs273.10 |
| High-Speed Diesel | Rs274.08 |