Karachi, Pakistan – Industrial and official sources informed The News on Thursday that Pakistani consumers might experience a slight dip in fuel prices starting June 1. Petrol is projected to decrease by Rs0.60 per litre, and high-speed diesel (HSD) by Rs0.28 per litre. However, there is also a strong likelihood that the prices of POL (petrol, oil, lubricant) products will remain unchanged, a decision contingent on input from the finance ministry.
Conversely, kerosene oil is expected to see a marginal increase of Rs0.30 per litre, raising its price from the current Rs164.64 to Rs164.96 per litre. The price of light diesel oil (LDO) is also anticipated to rise by Rs1.30 per litre.
These potential price adjustments are influenced by recent fluctuations in the international oil market. Brent crude oil prices have been observed within the range of $64.02-$64.60 per barrel. West Texas Intermediate (WTI) crude, on the other hand, fell by over 1.5%, trading below $61 a barrel, following reports from Interfax citing Kazakhstan that OPEC+ plans to increase output at a meeting scheduled for Saturday, with the precise volume of the increase still to be determined.
Broader markets eased from earlier highs after data indicated a contraction in the US economy at the beginning of the year, applying further downward pressure on commodity prices. Earlier, crude prices had rallied by as much as 2% after a trade court blocked a significant portion of President Donald Trump’s trade levies, including elevated tariffs on China, the world’s largest importer of crude.
