Petrol, diesel prices likely to be reduced by more than Rs10 per litre for next fortnight

The government is expected to cut petrol and diesel prices in less than two days, following a decrease in international oil rates.

There is a high chance that the petrol price in Pakistan will be reduced by more than Rs10 per litre on September 16, while the diesel price is also expected to be slashed by up to Rs12 per litre for the upcoming fortnight.

Recent reports also suggest that there is little to no chance the government will consider increasing the petroleum levy because if levy is raised, petrol and diesel prices may witness a very slight decrease of Rs6 per litre or even less.

The adjustment in petroleum prices will be decided after analysing the economic factors and the latest international oil rates at the time of announcement.

The price of petrol in Pakistan, according to reliable sources, may drop to Rs247.60 per litre, while diesel is likely to be priced at Rs251.75 after the anticipated cut.

The final decision regarding the reduction in petrol and diesel prices will be announced tomorrow through an official notification and the revised rates will be effective from September 16.

Read more: Another record high in three days: Gold price reaches Rs265,900 per tola