Pakistan is expected to witness another increase in petrol prices, while high-speed diesel (HSD) may see a substantial reduction.
The government is expected to announce new petroleum prices today, with petrol likely to go up by Rs1.40 per litre for the next two weeks starting August 16 due to a sharp rise in global oil prices.
On the other hand, the price of high-speed diesel (HSD) could drop by up to Rs11.50 per litre because of a significant fall in international diesel rates.
In the last 15 days, global petrol prices have increased by $0.15 per barrel, while diesel prices have decreased by about $4.50 per barrel.
As of August 1, petrol was selling at Rs264.61 per litre after a reduction of Rs7.54 per litre, while HSD was priced at Rs285.83 per litre.
The Oil and Gas Regulatory Authority (OGRA) will send its price summary to the government today, and Prime Minister Shehbaz Sharif will give the final approval. The new prices will take effect from midnight.
Pakistan reviews fuel prices every 15 days to adjust them according to global market trends and currency exchange rates.
Earlier on July 15, the government had raised petrol prices by Rs5.36 per litre and diesel prices by Rs11.37 per litre, which remained in place until July 31.
