Rs10 cut in diesel, hike in petrol prices likely

November 15, 2023 (MLN): The diesel prices are expected to fall by around Rs10 per litre, while the petrol prices may see an upward revision, even though global crude oil prices have dropped significantly since the last fortnight.

This is because international petroleum product prices have risen slightly since the last fortnightly update.

Price estimates till November 14, 2023, show an average international petroleum price increase of around 1.9%.

On the other hand, diesel prices show a downward revision of around Rs10 per litre in accordance with the decline in international diesel prices.

Globally, diesel prices have gone down to $102.6 from the previous fortnight's $108.9 per barrel.

The government will announce the next fortnightly today at midnight.

To note, the Pakistani Rupee (PKR) has fallen by around 6 rupees as against last fortnight's weighted average rate of ~279.5 per USD.

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