Petrol prices in Pakistan are anticipated to drop significantly from August 15, following recent global oil price trends and industry insights. According to forecasts, petrol could become cheaper by more than Rs9 per liter, while high-speed diesel (HSD) might see a reduction of up to Rs8.50 per liter. Kerosene oil is also expected to drop in price, potentially by over Rs12 per liter.
If these anticipated reductions take effect, the price of petrol will decrease to Rs257.43 from Rs269.43 for the upcoming fortnight. The Oil and Gas Regulatory Authority (OGRA) is expected to finalize these pricing adjustments and submit its recommendations to the government by August 15. The final decision on the new rates will be made by Finance Minister Muhammad Aurangzeb, in consultation with Prime Minister Shehbaz Sharif.
These potential price cuts could offer some much-needed relief to consumers grappling with high inflation and rising living costs across the country. Further updates will be provided once OGRA’s report is officially submitted.
In the FY25 budget, the government increased the Petroleum Levy limit from PKR 60 to PKR 70 per liter. However, this levy has remained unchanged at PKR 60 per liter. Should the government decide to raise the Petroleum Levy by PKR 5 per liter, the anticipated price reductions for diesel and petrol might be limited to PKR 4 per liter and PKR 5 per liter, respectively.
 might see a reduction of up to Rs8.50 per liter. Kerosene oil is also expected to drop in price, potentially by over Rs12 per liter.){kind=link}