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Expected Price Cuts
Pakistan might experience a notable reduction in fuel prices soon, with potential cuts of up to Rs12 per litre for various petroleum products. Industry sources suggest that petrol prices 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 might also become cheaper, with a price cut potentially exceeding Rs12 per litre.
Regulatory and Government Actions
The Oil and Gas Regulatory Authority (OGRA) is expected to finalize the pricing adjustments and present its recommendations to the government by August 15. Finance Minister Muhammad Aurangzeb, in consultation with Prime Minister Shehbaz Sharif, will make the final decision regarding the new prices.
Impact on Consumers
If these price cuts are approved, they could provide some relief to consumers dealing with high inflation and escalating living costs throughout the country. Further announcements regarding the new prices are anticipated after the submission of OGRA’s report.
