In a move offering some relief to inflation-stricken Pakistanis, the federal government is set to reduce petrol and diesel prices for August 2024.

The anticipated decrease is around Rs. 2.90 per liter for petrol and Rs. 8.50 per liter for diesel, following a decline in global oil prices, which have hit a six-week low. In the past fortnight, international oil prices have dropped by approximately $2-3 per barrel.

Expected Petrol Prices in Pakistan for August 2024

• Petrol: Rs. 272.70 per liter
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• Diesel: Rs. 275.13 per liter

Current Petrol Prices in Pakistan

• Petrol: Rs. 275.60 per liter
• Diesel: Rs. 283.63 per liter
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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 is now $8.80 per barrel, while for HSD, it stands at $5 per barrel. Despite stable exchange rates, the Pakistani government has raised the petroleum levy limit to Rs. 70 per liter.

The government will finalize and announce the revised petrol prices on July 31, with the new rates set to take effect from August 1, 2024.

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