Pakistani government is expected to lower the price of petrol and high-speed diesel (HSD) for first half of August 2024, passing on relief to inflation-hit masses.
People who bear the brunt will experience some relief from next month petrol and diesel prices will go down by Rs8.50 per litre. The expected decrease on petrol is said to be around Rs. 2.90 for petrol and Rs. 8.50 for diesel per lite amid global oil prices.
Expected Petrol Price
- Petrol: Rs. 272
- Diesel: Rs. 275
Current Petrol Price in Pakistan:
- Petrol: Rs. 275
- Diesel: Rs. 283
The recent relief stemmed to drop in international prices for petrol and high-speed diesel (HSD) which dropped to $87.50 and $94 per barrel. The import premium for petrol has decreased to $8.80, and for diesel to $5 per barrel.
Despite stable exchange rates, Pakistani government increased petroleum levy limit to Rs. 70 per liter. The government will review petrol prices on July 31, and the new prices will take effect from August 1.
In July 2024, the prices of both products saw back to back increase and changes in international market and imposition of petrol levy.
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