Petrol and Diesel Prices in Pakistan May Drop from August 15

Pakistani citizens may soon receive good news as the government plans to lower petrol and diesel prices from August 15, 2024. This expected decrease could bring much-needed relief to the public, who have been grappling with rising living costs.

The Oil and Gas Regulatory Authority (OGRA) is currently finalizing recommendations for the new fuel prices. Once completed, OGRA will submit these recommendations to Finance Minister Ishaq Dar. He, along with Prime Minister Shehbaz Sharif, will decide on the final prices. If approved, the new rates will take effect on August 16, 2024.

Reports suggest that the price of petrol might drop by more than Rs9 per litre, while diesel could see a reduction of around Rs8.5 per litre. Kerosene, widely used in rural areas, might experience the largest decrease, potentially falling by over Rs12 per litre.

Price Drop Expectations

As of early August 2024, petrol costs Rs269.43 per litre, and high-speed diesel sells for Rs272.77 per litre. With the expected reductions, the government could set petrol at Rs260.43 per litre and diesel at Rs264.77 per litre.

The government’s move to reduce fuel prices comes at a time when inflation and the cost of living have significantly burdened the public. Lowering petrol and diesel prices could ease financial pressures on families and individuals who depend on these fuels for transportation and daily needs.

By considering these reductions, the government aims to stabilize the economy and provide relief to the public. Despite fluctuations in the global oil market, the government is working to adjust local fuel prices in line with international trends.

Also Read: Govt Likely to Cut Petrol Price by Rs5.50 per Litre from Aug 1

Moreover, citizens across Pakistan are eagerly awaiting the final announcement, hoping the anticipated price cuts will offer some relief from their financial struggles. If implemented, this reduction in fuel prices could positively impact millions of lives throughout the country.