AA expects petrol price drop, diesel price rise for November

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It says month-end unaudited data from the Central Energy Fund points to a 30 cents a litre increase for the price of both diesel and paraffin.

The price of a liter of 92-Octane Petrol has been reduced from Rs.155 to Rs 145 and Auto Diesel to Rs 116 from Rs 123.

Former president Asif Ali Zardari has condemned fresh surge in petroleum prices by the government and called it an "oppressive step", ARY News reported.

"The exchange rate started the month badly but has since levelled out", the AA said.

The price drop is a response to crude oil prices, which have fallen by $10 a barrel, AA petrolwatch spokesperson Mark Stockdale said.

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Consumers have experienced record high fuel prices due to a rising oil price and weak rand.

Based on the worldwide prices, Ogra had worked out an increase of Rs9.02 per litre in the price of MS (petrol) and for HSD it recommended an increase of Rs13.22 per litre.

"Unfortunately‚ diesel and illuminating paraffin will both increase by about 30c a litre".

The Association noted global petroleum prices had shown modest declines in the past month, which it described as "a cause for optimism". If the Rand maintains its current trajectory of relative stability, motorists could get some relief as the Christmas season approaches.

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