Petrol and Diesel Prices Expected to Drop for Fourth Consecutive Fortnight
ISLAMABAD: For the fourth consecutive period, prices for major petroleum products—petrol and high-speed diesel (HSD)—are anticipated to decrease by approximately Rs10 per litre starting September 15, barring any changes in the petroleum levy by the government.
Sources indicate that international prices for petrol and HSD have fallen by about $5 per barrel over the past two weeks. Based on current exchange rates and existing tax structures, both petrol and HSD prices are projected to drop by Rs10-11 per litre.
However, the government might raise the petroleum levy by Rs5 per litre to leverage the lower international prices and help offset the Federal Board of Revenue’s (FBR) Rs100 billion revenue shortfall for the first two months of the fiscal year. If this adjustment occurs, the price reduction could be limited to around Rs5-6 per litre.
