What will be the new Petrol, Diesel Rates in Pakistan from August 1?

Amid record-breaking inflation and back-to-back surge, Pakistanis will get relief on petrol and diesel prices from starting of August 2024.

Sources informed with the development claimed that Petrol and diesel prices are expected to come down starting August 1, with a decrease of about Rs3 per litre for petrol and Rs8.50 per litre for diesel.

The relief is due to drop in international prices and reduced import premiums. Despite this, prices will remain relatively high due to significant government taxes.

The price of petrol will be just above Rs272 per litre and HSD will be close to Rs275 per litre. Recent price increases have been substantial, following a previous period of price reductions.

Expected Petrol Rates in Pakistan

In last two weeks, global oil prices for petrol and high-speed diesel (HSD) moved down to $87.50 and $94 per barrel, respectively. The import premium for petrol has fallen to $8.80, while diesel stands at $5 per barrel.

Petrol prices will be adjusted on July 31, with the new rates set to take effect from August 1.