What could be the latest petrol price in Pakistan from July 16?

ISLAMABAD – The prices of petroleum products are expected to go down for the second half of next month as the federal government planned to give relief to the inflation-weary people who are facing record food and fuel prices.

Sharif led government is set to review the prices of petroleum products today for the next fortnight.

Sources familiar with the development claimed that improvement in local currency will help the government cut the ex-depot price of petrol however, the IMF's condition on hike in the petroleum levy, could also hamper the relief for masses.

Meanwhile, the petroleum levy on high-speed diesel (HSD) is expected to move up for the next two weeks.

Prices of PoL products saw an increase globally in recent days, but as PKR shows resistance against the greenback following the disbursement of funds from IMF and financial assistance from a friendly nation, people could get a slight relief in petrol price.

As of July 15, petrol’s ex-depot price is showing a decline of around Rs10 from the existing price however the ex-depot price of High-Speed Diesel shows a surge of more than Rs3.50.

Similarly, prices of light-speed diesel, and Kerosene are also showing an upward trend.

Pakistan is charging Rs50 per litre petroleum levy on High-Speed Diesel, while IMF wants it to be increased to Rs60 per litre however, instead of raising levy by Rs10, the government could make jack up the PL by Rs5.

In the last fortnight's review, the government kept petrol prices unchanged for the next fortnight till 15 July.