ISLAMABAD: After four consecutive price hikes, petrol and diesel rates are expected to decrease in the next fortnightly review, which will be announced on August 1 and remain in effect until August 15.
According to media report , petrol prices may drop by around Rs9 per litre, while high-speed diesel (HSD) could see a reduction of approximately Rs3.50 per litre. The expected decrease is mainly due to lower global oil prices and a decline in the import premium.
Sources said that, based on existing tax rates, the ex-depot price of petrol could fall by about 3.3%, and HSD by 1.3%. However, final prices will depend on the actual cost calculations.
Over the past two weeks, international oil prices have seen a slight drop. Additionally, easing tensions in the region have reduced the petrol import premium by nearly one-third—from $9.70 per barrel to $6.75 per barrel.
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Currently, the ex-depot price of petrol stands at Rs272.15 per litre, marking a Rs20 increase since May 15. On the other hand, the prices of kerosene and light diesel oil (LDO) are expected to rise by Rs3.50 and Rs2.25 per litre, respectively.
Earlier, on July 15, the government raised petrol and diesel prices. According to a Finance Ministry notification, petrol went up by Rs5.36 per litre and HSD by Rs11.37 per litre, effective July 16 for 15 days.
Following the increase, diesel is now priced at Rs284.35 per litre, while petrol is available at Rs272.15 per litre.
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