Relief in petrol price by Rs2.49, diesel Rs9.11 likely

New price of petrol may settle at Rs254.64 per litre, down from current Rs257.13 per litre

By Khalid Mustafa
February 15, 2025
A worker holds a fuel nozzle to fill up a cars fuel tank at a petrol station in Karachi on September 16, 2023. — Reuters
A worker holds a fuel nozzle to fill up a car's fuel tank at a petrol station in Karachi on September 16, 2023. — Reuters

ISLAMABAD: Petroleum product prices are expected to significantly reduce for the next fortnight starting tomorrow (February 16, 2025), as authorities have calculated a decrease ranging from Rs2.49 to Rs9.11 per litre.

According to official and industry sources, the price of petrol is likely to decrease by Rs2.49 per litre, while the price of high-speed diesel (HSD) may decrease by Rs9.11 per litre.

“The fundamentals of the international oil market remain strong. Recent statements by US President Donald Trump about increasing hydrocarbon exploration and production in the USA, along with his telephonic conversation with Vladimir Putin regarding a peaceful resolution to the Russia-Ukraine war, have sent positive signals to the market, leading to a drop in oil prices,” the sources stated.

With the anticipated Rs2.49 per litre reduction, the new price of petrol may settle at Rs254.64 per litre, down from the current Rs257.13 per litre.

Similarly, the price of diesel is expected to decrease to Rs288.84 per litre from Rs297.95 per litre, reflecting a Rs9.11 per litre drop.