In a positive development for consumers in Pakistan, a significant reduction in petrol prices is expected after the scheduled review on September 15.
Petrol and high-speed diesel (HSD) prices are anticipated to decrease by 10-11 rupees per liter, effective from September 16. This reduction is due to a recent decline in international oil prices, which have dropped by approximately 5 dollars per barrel.
The anticipated price cut will depend on the stability of the petroleum levy, exchange rates, and current tax rates. According to media reports, the price drop will follow international trends, provided there are no changes to the domestic tax structure or petroleum levies.
On September 1, the government had already reduced petrol and HSD prices by 1.86 rupees and 3.32 rupees per liter, respectively, for the first two weeks of the month.
If the expected reduction of 10 rupees per liter is implemented, petrol prices in Pakistan will adjust to 249.10 rupees per liter, while HSD prices will settle at 252.75 rupees per liter from September 16. This notable decrease is likely to provide relief to consumers and align with the ongoing changes in the global oil market.
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