Motorists in Pakistan may soon see further relief at fuel stations, with petrol and diesel prices expected to drop again from 16 August.
The anticipated cut follows a steady decline in global crude oil prices over the past 11 days. US benchmark West Texas Intermediate (WTI) has fallen by $5.71 per barrel, sliding from $69.26 to $63.48, while Brent crude has dropped by $5.72 to $65.98 per barrel from its earlier $71.70.
Officials at the Oil and Gas Regulatory Authority (OGRA) are finalising the revised petroleum rates, which will be forwarded to the Ministry of Finance by 15 August. After approval from the federal government and the prime minister, the new prices are expected to take effect the next day and remain in place until the end of the month.
The adjustment comes just weeks after the last revision, when petrol became cheaper by Rs7.54 per litre, but diesel rose by Rs1.48 per litre.
As of now, petrol (Super) is selling at Rs264.61 per litre and high-speed diesel at Rs285.83 per litre. The upcoming revision is expected to bring these figures down, though the exact reduction will be confirmed once the government signs off on OGRA’s proposal.