Petrol and Diesel Prices Expected to Drop Again
The federal government is anticipated to lower the prices of petrol and diesel for the third consecutive fortnight, with a reduction of Rs. 5-6 per liter each set to take effect from September 1, 2024.
This expected decrease is driven by recent drops in international prices for High-Speed Diesel (HSD), petrol, and crude oil, which have fallen to $80.4, $88, and $79 per barrel, respectively. During the same period, the Pakistani rupee held steady at 278 against the US dollar.
In addition, the import premium for petrol has decreased by about 50 cents per barrel to $8.50, while the premium for HSD remained unchanged at $5 per barrel.
With these changes, it is projected that the price of HSD will fall to approximately Rs. 260-261 per liter, while petrol prices are expected to drop to Rs. 254-255 per liter.
In the previous fortnight, the government had already reduced petrol prices by Rs. 8.47 per liter, bringing the new price to Rs. 260.96. Diesel prices were also cut by Rs. 6.7 per liter, resulting in a new rate of Rs. 266.07.
