Petrol, diesel prices likely to plunge in Pakistan

Petroleum prices in Pakistan are expected to fall dramatically, with petrol, diesel, and kerosene rates dropping by up to Rs 12 per liter.

According to media sources, petrol prices might fall by more than Rs 9 per litre, while diesel prices are expected to fall by roughly Rs 8.50 per litre. It is expected that the price of kerosene would drop by more than Rs 12.

The Oil and Gas Regulatory Authority (OGRA) is expected to offer its recommendations for these pricing increases to the government by August 15.

The clearance will be completed after consultations with Finance Minister Mohammad Aurangzeb and Prime Minister Shahbaz Sharif. If this price drop is approved, it will provide significant relief to clients suffering with high inflation and rising living costs.

This follows a previous price cut on July 31, with petrol falling by Rs 6.17 per litre and diesel by Rs 10 per litre. Following the change, petrol was priced at Rs 269.43 per litre, high-speed diesel at Rs 272.77 per litre, and kerosene at Rs 177.39 per litre.