From May 16 onwards, Pakistan is expected to witness a further decline in petroleum product prices, with petrol projected to decrease by Rs 12 per litre. This mirrors the global trend, as gasoline prices have dropped by $6.32 per barrel, now standing at around $99.93 per barrel.
Similarly, diesel prices are anticipated to fall by Rs 9.70 per litre, reflecting the global decline to $99.08 per barrel.
Simultaneously, Pakistan has experienced an 11% annual reduction in petroleum product sales during the initial 10 months of the current financial year.
According to OCAC and Topline Securities, sales from July 2023 to April 2024 amounted to 12,443,000 metric tons, showing an 11% decrease compared to the previous year’s 13,970,000 metric tons.
