Pakistan Government to Lower Petrol Prices Again in June

The federal government of Pakistan is set to decrease petrol prices for the third time in a row in June 2024. Reports suggest that the price of petrol is likely to drop by Rs4 per litre due to a decrease in international prices, mainly influenced by the ongoing crisis in the Middle East.

Furthermore, diesel prices are also expected to witness a reduction of Rs3.5 per litre. The official announcement regarding the revised petroleum prices is scheduled to be made on the night of May 31. These changes will come into effect from June 1, 2024, for the first half of the month.

The final decision on the prices will be taken by Prime Minister Shehbaz Sharif after a thorough review of the recommendations put forth by the Oil and Gas Regulatory Authority (Ogra).

In recent months, Pakistan has experienced a series of petrol price reductions, bringing relief to consumers amidst economic challenges. The government's efforts to pass on the benefits of declining global oil prices to the public have been well-received.

The anticipated reduction in petrol and diesel prices in June 2024 reflects the government's commitment to providing some respite to the citizens. As the country navigates through various economic uncertainties, such measures aim to alleviate the financial burden on the general population.