In August 2024, Pakistanis may experience some relief from inflation as the federal government is anticipated to lower petrol and diesel prices. Fuel prices are expected to decrease by approximately Rs. 2.90 for petrol and Rs. 8.50 for diesel, due to global oil prices hitting a six-week low.
Over the past two weeks, international oil prices have dropped by about $2-3 per barrel.
Expected Petrol Price in Pakistan
| POLs | Price |
|---|---|
| Petrol | Rs272.70 |
| Diesel | Rs275.13 |
Current Petrol Price in Pakistan
| Fuel Types | Price |
|---|---|
| Petrol | Rs275.60 |
| Diesel | Rs283.63 |
Recently, international prices for petrol and high-speed diesel (HSD) have decreased to $87.50 and $94 per barrel, respectively. The import premium for petrol has fallen to $8.80 per barrel, while for HSD it has dropped to $5 per barrel.
Despite stable exchange rates, the Pakistani government has raised the petroleum levy limit to Rs70 per liter.
The government is set to revise petrol prices on July 31, with the new prices scheduled to take effect from August 1.
