Expected petrol price in Pakistan from March 1, 2024
KARACHI – Petrol price in Pakistan is expected to come down in a sigh of relief for inflation-hit citizens who are facing massive inflation.
Sources familiar with development revealed that the prices of petrol and diesel are estimated to be come down for the first half of March 2024.
The development is expected to be a breather for consumers in Pakistan with a considerable drop in global oil prices. The prices of petroleum products are expected to move up amid a drop in international oil prices and the formation of a new government.
Prices of all petroleum products including petrol and high-speed diesel (HSD) could move down by about Rs7-10 per litre, from March 1 for the next fortnight.
The outgoing government has not decided any changes in the fuel prices and the final decision will be made on the night of February 29 for the upcoming first half of March 2024 will see a decrease of almost 7 Rs per litre in petrol prices.
Petrol Price in Pakistan
| Petroleum products | Current Price | Expected Price |
| Petrol | PKR 275.62 | PKR 268.70 |
| Diesel | PKR 287.33 | PKR 279.50 |
As of 26 February, Brent crude moved down to $81.27 a barrel and US West Texas Intermediate crude futures (WTI) fell 0.5pc to $76.14 a barrel.
The downward trend in oil prices started last week and was driven by the strengthening US dollar.
The market sentiment has now shifted as expectations for prolonged interest rates have boosted the greenback, putting pressure on commodity prices.
Since November last year, oil prices have been fluctuating between $70-$90 a barrel, and it is influenced by a handful of factors including increased US supply and uncertainties about demand in Beijing, despite ongoing OPEC+ supply adjustments and geopolitical tensions.
Earlier in mid feb, the outgoing government pushed through another hike in the prices of petrol by Rs2.71 per litre and high-speed diesel (HSD) by Rs8.73 per litre.