Petrol prices may go down from August 1

Good news for consumers as petrol and diesel prices in Pakistan are expected to come down in the upcoming fortnight, starting from August 1.

This expected relief follows a decline in global oil rates. According to Arif Habib Limited, a well-known securities firm, petrol prices may decrease by Rs6.82 per litre, while high-speed diesel (HSD) could see a cut of Rs1.68 per litre. After several hikes in recent months, the government is now expected to provide some relief to the public. The expected drop is based on international market trends. Between July 16 and 31, Brent crude oil averaged $68.75 per barrel, and West Texas Intermediate (WTI) averaged $65.98 per barrel. The exchange rate remained almost stable at Rs284.25 per US dollar.

Currently, the price of petrol in Pakistan is Rs272.15 per litre, while diesel is priced at Rs284.35. Earlier, on July 16, the government had raised petrol prices by Rs5.36 per litre and diesel by Rs11.37 per litre for the second half of the month. A summary suggesting the revised prices will be sent to the Prime Minister’s Office by Thursday. Final prices will be announced after approval.

If approved, the reduction will provide much-needed financial relief to citizens already struggling with rising living costs. The new prices will be effective from August 1, 2025.