Petrol prices in Pakistan are expected to fall by around Rs. 8 per litre in the upcoming fortnight, following a sharp decline in international oil prices. The revised rates are likely to be effective from August 16 to 31, with the official announcement expected on August 15.
The anticipated drop comes as global oil markets experience a notable downturn. Over the past 11 days, US crude prices have fallen by $5.71 per barrel, from $69.26 to $63.48, while British Brent crude dropped by $5.72 per barrel, from $71.70 to $65.98.
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A slight decrease in the import premium on petrol has also contributed to the expected local price adjustment. At present, the ex-depot rate stands at Rs264.61 per litre for petrol and Rs285.83 for high-speed diesel (HSD).
The potential reduction follows a previous cut of Rs7.54 per litre in petrol prices earlier this month, alongside a Rs1.48 per litre increase in HSD. In the last revision, the ex-refinery price fell by Rs1.22 to Rs183.57 per litre, while the Inland Freight Equalization Margin (IFEM) rose to Rs6.24 per litre.
The Petroleum Development Levy (PDL) increased by Rs2.50 to Rs77.01 per litre, with margins for oil marketing companies and dealers unchanged at Rs7.87 and Rs8.64 per litre, respectively.
If approved, the upcoming adjustment will offer much-needed relief to consumers amid rising living costs.
