Pakistan is likely to experience a substantial decrease in fuel prices starting August 15, 2024. This anticipated reduction follows a drop in global oil prices, as per recent reports.
Expected Price Cuts:
- Petrol: Anticipated drop of over Rs9 per litre
- High-Speed Diesel (HSD): Expected reduction of up to Rs8.50 per litre
- Kerosene Oil: Projected decrease of Rs12 per litre
The final decision on the new fuel prices will be made by Finance Minister Muhammad Aurangzeb, in consultation with Prime Minister Shehbaz Sharif. This comes after the federal government previously reduced petrol and HSD prices for the upcoming fortnight by Rs6.17 and Rs10.86 per litre, respectively.
Current Fuel Prices:
- Petrol: Rs269.43 per litre
- High-Speed Diesel (HSD): Rs272.77 per litre
- Kerosene Oil: Rs177.39 per litre (up from Rs173.48 per litre)
The government is currently charging a petroleum levy of Rs70 per litre on both petrol and HSD, with these fuels exempt from general sales tax (GST). The Finance Bill 2024 proposes a maximum petroleum levy limit of Rs80 per litre, aiming to collect Rs1.28 trillion in the new fiscal year.
Stay updated on the latest fuel price changes and government announcements.
