Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

Petrol prices likely to nudge up, diesel rates set for notable hike

Petroleum import bill drops by 8.9% YoY to $1.26bn in April: SBP
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April 15, 2024 (MLN): Following the upward trend in the international market, the government is likely to hike the price of petrol by around Rs1.4 per litre and high-speed diesel (HSD) by Rs8.8 per litre for the remainder of April 2024.

Price estimates indicate the ex-refinery price of petroleum has risen to Rs209 compared to the previous fortnight's Rs207.6 per litre.

Meanwhile, the ex-refinery price of high-speed diesel (HSD) has risen to around Rs210.7.

It is important to note that the recent impact of the Middle East escalation is yet to materialise, which can further push up fuel prices in the coming months.

The government will announce the new prices at midnight today, and they will remain in effect for the rest of April.

To recall, in the last fortnight, the government increased the price of petrol by Rs9.66 to Rs289.41 per litre.

Conversely, the price of High-Speed Diesel (HSD) was slashed slightly by Rs3.32 to Rs282.24 per litre.

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Posted on: 2024-04-15T20:37:42+05:00