On June 1, gas prices are anticipated to drop, according to people with knowledge of the development. There could be a reduction in the cost of gasoline and diesel per liter of roughly Rs6.50 to Rs7.50.
The price of gasoline and diesel on the international market has dropped by $3.25 and $2.10 a barrel, respectively, in the last 15 days.
This comes after a prior 15-day period during which the price per barrel fell by $4.3 and $8.7. At present, a litre of petrol costs Rs 273.10, while a litre of diesel costs Rs 274.08.
Based on calculations and domestic oil distribution, there might be a 7.25 rupee drop in the price of gasoline and a 6.25 rupee drop in the price of diesel. In addition, the gasoline import premium dropped by 7%, going from $10.30 to $9.70 per barrel over.
While Pakistan State Oil continues to pay the benchmark import premium of $6.50 per barrel, the price of diesel on the international market has decreased by $2.10 per barrel.
Therefore, depending on the results of the Inland Freight Equalization Margin (IFEM) final computations, the price of fuel could drop by Rs6.25 per liter.
In general, the price of gasoline has dropped from roughly $95 per barrel to roughly $98.27 per barrel on the global market, while the price of diesel has reduced from $99.12 to $97 per barrel.
As a result, on May 16, the nation’s gasoline and diesel rates were recently revealed to have decreased by Rs 15.93 and Rs 7.88 per liter, respectively.
