Fuel prices likely to drop by Mid-August after recent hikes

After four straight increases, petrol and diesel prices are expected to decrease by approximately Rs9 and Rs3.50 per litre, respectively, in the upcoming fortnight ending August 15, says industry sources on Tuesday.

The petrol prices are expected to drop by Rs. 9.07 per litre, while diesel may see a reduction of Rs. 3.73 per litre for the next 15 days. The anticipated price changes are attributed to fluctuations in global oil prices and adjustments in the exchange rate of the Pakistani rupee against the US dollar.

According to industry sources, the price of petrol is likely to decrease from Rs. 272.16 to Rs. 263.08 per litre, and diesel from Rs. 283.35 to Rs. 280.62 per litre.

However, prices of other petroleum products are expected to rise. The price of kerosene oil may increase by Rs. 3.55 per litre, from Rs. 181.33 to Rs. 184.88 per litre. Similarly, light diesel oil is expected to see a rise of Rs. 2.33 per litre, from Rs. 167.76 to Rs. 170.09 per litre.