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ISLAMABAD: The federal government has massively decreased petrol prices in Pakistan from tonight, May 16 amid decreasing global oil prices. The federal government has dropped price of petrol by Rs 15.39 for May 2024.
The petrol prices saw a decrease of $6.32 per barrel to reach $99.93 in international market while the diesel prices also registered downward trend.
The Oil and Gas Regulatory Authority (Ogra) has sent a summary to the Finance Division, recommending a decrease in petroleum prices.
As per notification issued, the government has decreased petrol price by Rs15.39 per litre and diesel price has dropped by up to Rs7.88 per litre.
New Petrol, Diesel Rates for May 2024:
| Products | Existing price | New price | Increase/Decrease |
| MS (Petrol) | 288.49 | 273.10 | -7.88 |
| High Speed Diesel (HSD) | 281.96 | 274.08 | -15.39 |
Read More: Another massive drop expected in petrol, diesel prices
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