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After the decrease in the prices of petroleum products in the world market, there is a possibility of a decrease in the prices of petroleum products in Pakistan from May 1.
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In the international market, petrol has become cheaper by 1.86 dollars to 107.16 dollars per barrel. After which the price of petrol per liter in Pakistan is likely to decrease by 5 rupees.
After a drop of $4.30 in the global market, the price of diesel reached $104.76 per barrel, after which high-speed diesel in Pakistan is likely to be cheaper by Rs.7 per liter.
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On the other hand, in the first 9 months of the current financial year, a decrease of 8% has been recorded in the imports of petroleum products on an annual basis.
According to the statistics released by the Pakistan Bureau of Statistics, the foreign exchange spent on imports of petroleum products in the period from July to March 2023 was 12.084 billion dollars, which is 8% less than the same period of the previous fiscal year.
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In the same period of the previous financial year, foreign exchange was spent on imports of petroleum products of 13.083 billion dollars, in March 2024, the volume of imports of petroleum products spent foreign exchange of 1.506 billion dollars, which is 25% more than March last year.
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In March last year, the volume of imports of petroleum products was recorded at 1.206 billion dollars. In comparison to February, the imports of petroleum products have increased by 21% on a monthly basis. In February, imports of petroleum products were 1.246 billion dollars. Foreign exchange was spent.
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