Petrol and diesel fall sharply in a week; dollar barely moves
Petrol and diesel prices per litre are lower than a week or so ago, while the interbank dollar moved by only ten paisa. No gold figure is available for this week's review.
For information only, not investment advice. Prices change quickly: check the time and source of every figure.
- Petrol was Rs346 a litre on 7 November, down from Rs377.91 on 28 October.
- High-speed diesel was Rs378 a litre on 7 November, down from Rs402.96 on 30 October.
- The interbank dollar closed at Rs276.66 on 6 November, against Rs276.76 on 29 October.
The biggest change in household budgets over the past week is in fuel. According to khabr.pk's records, petrol was Rs346 per litre on 7 November. On 28 October it was Rs377.91. That is a fall of Rs31.91 per litre.
High-speed diesel also became cheaper. It stood at Rs378 per litre on 7 November, compared with Rs402.96 on 30 October, a fall of Rs24.96 per litre. Note that the two earlier dates differ slightly, so the periods compared are not exactly the same length.
For a family that runs a motorcycle or a car, the lower petrol price means a smaller bill each time the tank is filled. At the 7 November price, a litre costs about Rs32 less than it did on 28 October. The material does not say how much a family fills each week, so the total saving depends on how much it drives.
Diesel matters for small businesses that move goods by truck or run generators. A lower diesel price reduces one cost for them. Whether that reaches the price of goods in the market is not shown in the figures khabr.pk holds, so it remains open.
The dollar barely moved. The interbank closing rate was Rs276.66 on 6 November, against Rs276.76 on 29 October, a fall of ten paisa. For anyone paying for imports or foreign travel, that is a very small change.
khabr.pk also recorded an open market selling rate of Rs280 for the dollar on 28 October. There is no earlier figure to compare it with, so no weekly change can be stated. There is likewise no gold figure in this week's records, so this review does not cover gold.
What is still open is whether the lower fuel prices last. The figures show only where prices stood on the dates given, and they do not say why prices fell or what happens next.
Why it matters
Motorcyclists and car owners pay less per litre for petrol than they did on 28 October. Small transporters and businesses that run on diesel see one of their costs fall. Importers and travellers abroad see almost no change in the interbank dollar. Whether cheaper fuel reaches shop prices cannot be told from these figures.
