Petrol, diesel prices likely to decrease

Price of petrol could decrease by over Rs9 per litre, while HSD may see reduction of up to Rs8.50 per litre

Pakistan may see a significant reduction in fuel prices in the coming days, with cuts of up to Rs12 per litre expected across various petroleum products, according to industry sources.

Preliminary calculations suggest that the price of petrol could decrease by over Rs9 per litre, while high-speed diesel (HSD) may see a reduction of up to Rs8.50 per litre. Kerosene oil is also likely to become cheaper, with a potential price cut exceeding Rs12 per litre.

The Oil and Gas Regulatory Authority (OGRA) is set to finalise the pricing adjustments and submit its recommendations to the government by August 15. The final decision on the new prices will be made by Finance Minister Muhammad Aurangzeb, in consultation with Prime Minister Shehbaz Sharif.

If approved, these price cuts could bring some relief to consumers facing high inflation and rising living costs across the country.

Further announcements are expected following the submission of OGRA's report.