In a potential relief for Pakistani consumers, petrol prices are expected to decrease by Rs5.9 per litre, following a recent fall in international oil prices. If predictions prove accurate, the price of petrol could drop to Rs255.06 per litre by August 23, 2024.
This anticipated reduction is due to a decline in the ex-refinery price of petroleum, which has fallen to Rs170.7 per litre from Rs176.66 per litre in the previous fortnight. Additionally, high-speed diesel (HSD) prices are projected to decrease by approximately Rs6 per litre, reflecting a similar drop in international HSD prices.
The anticipated price cuts are expected to provide significant relief, particularly to consumers relying on diesel for transportation and industrial applications. However, with a week remaining until the next pricing update, the final rates will hinge on further fluctuations in global oil markets and exchange rates. The updated prices are set to be announced at midnight on August 31, 2024, and will be in effect for the first half of September.
