ISLAMABAD – The Pakistani government is set to announce new prices for all petroleum products today, Wednesday, for August 2024. Reports suggest that petrol and diesel rates could decrease to Rs8.50 per litre.
According to online sources, the petrol price is anticipated to drop in the first half of August 2024. However, government officials have not yet confirmed this, and the final announcement will be made after today’s meeting.
Expected Petrol Prices in Pakistan:
- Petrol: Expected to decrease by about Rs3 per litre.
- High-Speed Diesel (HSD): Expected to drop by about Rs8.50 per litre.
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This anticipated reduction is due to a decline in international prices and lower import premiums. The international price of petrol has fallen to $87.50 per barrel, while HSD is priced at $94 per barrel. Despite these reductions, petrol is expected to remain above Rs272 per litre and HSD close to Rs275 per litre, assuming no increase in the petroleum levy.
Recently, the Sharif-led government increased the petroleum levy limit to Rs70 per litre to boost revenue for the upcoming fiscal year.
