In a potential relief for consumers, petrol prices in Pakistan are expected to decrease by Rs5.9 per litre, following a recent decline in international oil prices. If these predictions hold, petrol could be priced at Rs255.06 per litre by August 23, 2024.

This anticipated decrease stems from a drop in the ex-refinery price of petroleum, which has fallen to Rs170.7 per litre, down from Rs176.66 per litre in the previous fortnight.

Additionally, the government is likely to reduce the price of high-speed diesel (HSD) by approximately Rs6 per litre, driven by a similar drop in international HSD prices. This move would further alleviate the financial burden on consumers, particularly those relying on diesel for transportation and industrial purposes.

However, with a week remaining before the next pricing update, the final prices—set to be announced at midnight on August 31, 2024—will depend on further fluctuations in the global oil market and exchange rates. The new prices will be effective for the first half of September.