Petrol price may be reduced by more than Rs10 per litre this week

Pakistan may experience a notable drop in fuel prices in the near future, with reductions of up to Rs12 per litre anticipated for various petroleum products, according to industry sources.

Initial estimates indicate that the price of petrol could fall by more than Rs9 per litre, while high-speed diesel (HSD) might see a decrease of up to Rs8.50 per litre. Kerosene oil is also expected to become more affordable, with potential price cuts exceeding Rs12 per litre.

The Oil and Gas Regulatory Authority (OGRA) is expected to finalise these pricing adjustments and submit its recommendations to the government by August 15. Finance Minister Muhammad Aurangzeb, in consultation with Prime Minister Shehbaz Sharif, will make the final decision on the new fuel prices.

If approved, these reductions could offer significant relief to consumers grappling with high inflation and increasing living costs throughout the country. Further updates are anticipated following OGRA’s report submission.