In a potential relief for the inflation-stricken populace, Prime Minister Shehbaz Sharif-led federal government is expected to announce a reduction in petrol and diesel prices by up to Rs6 per litre for the first half of September 2024.
This anticipated decrease follows a notable dip in global crude oil prices, which have dropped by $2 to $2.30 per barrel.
Sources within the oil industry have indicated that the reduction will likely see the price of petrol decrease from Rs260.96 to Rs254 per litre, while high-speed diesel (HSD) may drop from Rs266.07 to Rs261 per litre.
However, it is important to note that there has been no official confirmation from the federal government or the Oil and Gas Regulatory Authority (OGRA) regarding the new rates.
OGRA is scheduled to review the prices on August 31, after which they will present their proposal to the government for final approval.
Current petrol, diesel prices in Pakistan
The current price of petrol, at Rs260.96 per litre, was set in mid-August following a reduction of Rs8.47 ahead of Pakistan's Independence Day.
