Petrol prices in Pakistan are expected to drop by Rs 5.50 per liter from August 1, 2024, providing relief to consumers. This decrease will likely remain in effect for the first half of August.
Industry sources indicate that the price of high-speed diesel (HSD) could also see a significant reduction of Rs 11.06 per litre. Kerosene oil is expected to decrease by Rs 5.84 per litre, and light diesel oil (LDO) may drop by Rs 5.07 per litre.
These reductions are subject to government approval and depend on global oil prices, currency exchange rates, and the financial impact on the energy sector.
If approved, the new petrol price will be Rs 270.10 per litre, down from Rs 275.60. High-speed diesel will be priced at Rs 272.57 per litre, compared to the current Rs 283.63 per litre. Kerosene oil will cost Rs 177.87 per litre, reduced from Rs 183.71, and light diesel oil will be sold at Rs 161.18 per litre, down from Rs 166.25.
The anticipated price cuts aim to provide some financial relief to consumers amid fluctuating global oil markets. These changes, effective from August 1, 2024, highlight the ongoing adjustments in fuel pricing based on international trends and domestic economic conditions.
