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Thursday, December 19, 2024

Home Business Petrol prices in Pakistan likely to dip – Expected petrol rates from Aug 16

Petrol prices in Pakistan likely to dip – Expected petrol rates from Aug 16

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ISLAMABAD – Petrol prices in Pakistan are expected to see a significant dip in upcoming fortnightly review on August 15.

The federal government would announce the revised petroleum prices on Thursday, with new rates coming into effect from Aug 16.

Reports said the petrol price likely to be reduced by up to Rs9 per litre and diesel price by Rs8 per litre in order to provide relief to masses.

Furthermore, the price of kerosene oil likely to drop by Rs12 per litre. The Oil and Gas Regulatory Authority (OGRA) is working on the recommendations to be presented to Prime Minister Shehbaz Sharif for approval.

Current Petrol Prices in Pakistan

The government reduced the petrol prices on July 31 for the first fortnight of August 2024. Currently, the price of petrol stands at Rs269.43 per litre while high speed diesel is being sold for Rs272.77 after their prices were reduced by Rs6.17 per litre.

Expected Petrol Prices in Pakistan from August 16

The petrol price is expected to dip by Rs9 per litre to Rs260.43 and diesel price by Rs8 to Rs264.77. The final decision will be taken by the government in light of recommendations to be made by OGRA.