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Latest News Fuel Prices Decrease in May 2023

News Fuel Prices Decrease in April

News Fuel Prices Decrease in May. Following a reduction in international crude prices, tariffs for petroleum products in Pakistan are expected to decrease from May 16, Geo News reported on Tuesday.

According to the estimates of the Petroleum Marketing Companies (OMC), the price of diesel is likely to fall by Rs 15-20 per liter, while the price of gasoline is expected to fall by Rs 4-5 per liter.

However, well-placed sources in the industry said there is a possibility that the Finance Division will keep the price unchanged.

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In its newsletter last fortnight, the federal government raised the price of gasoline to Rs 270 per liter.

The Finance Division attributed the price decrease to the depreciation of the Pakistani rupee against the US dollar and an increase in prices recorded by Platts Singapore.

The price of MS (gasoline) was increased by Rs5 per liter and the price of high-speed diesel was decreased by Rs13 per liter.

The decrease in the price of kerosene oil was kept at Rs 2.56 by cutting government quotas. Similarly, the price of light diesel was held constant by also adjusting for government quotas.

The new prices went into effect on May 16 and will remain in effect until May 31.

The Finance Division will announce the new rates on May 31, which will remain in effect for the next 15 days.

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Energy in all its forms is closely related to the county’s economic prosperity. The demand for energy is increasing daily due to urbanization, climate change, and global warming. Fuel in Pakistan

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Pakistan is an energy-deficient country due to its inadequate mix of energy supply, widening energy gap between supply and demand, and lack of energy efficiency legislation and its implementation.

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News Fuel Prices Decrease in May
News Fuel Prices Decrease in May

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