Following a recent decline in global crude oil prices, Pakistan is set to witness a substantial drop in petroleum product prices. Sources indicate that from August 1, the price of petrol may fall by Rs5.50 per litre. High-speed diesel (HSD) could see a reduction of up to Rs11 per litre, while kerosene is anticipated to become cheaper by Rs5.84 per litre. Light diesel oil may decrease by Rs5 per litre.
The past ten days have seen a decrease in global oil prices, prompting the Oil and Gas Regulatory Authority (OGRA) to adjust local prices accordingly. The new rates will be finalized today and will be officially notified following the prime minister’s approval.
This anticipated reduction in petroleum prices is expected to provide relief to consumers and positively impact various sectors reliant on these products.