Pakistanis are set to benefit from a significant decrease in petroleum prices starting September 16, 2024, due to a recent global decline in oil prices.
According to sources, the petrol price is expected to fall by Rs11.70 per litre. High-speed diesel (HSD) is anticipated to see a reduction of up to Rs11.91 per litre. Additionally, kerosene oil is likely to drop by Rs8.30 per litre, and light diesel may see a decrease of Rs9.50 per litre from coming Monday.
The Oil and Gas Regulatory Authority (OGRA) has completed its preliminary review based on current market conditions. Detailed recommendations will be sent to the government on September 15 for final approval. This adjustment in fuel prices is anticipated to offer substantial financial relief to consumers nationwide, reflecting the ongoing fluctuations in the global oil market.
If confirmed, this reduction will mark the third consecutive bi-weekly drop in petroleum prices. Sources have indicated that petrol could become cheaper by approximately Rs12 per litre, while diesel prices are also projected to decrease by the same amount. Kerosene oil is expected to drop by up to Rs8 per litre. The final adjustment in prices will be announced by the evening of September 15.
Earlier in August, the government had announced an Rs8.47 per litre reduction in petrol prices, bringing the price down to Rs260 as an Independence Day gesture. This was followed by a further reduction of Rs2.97 per litre for the first half of September, with high-speed diesel prices decreasing by Rs2.31 per litre.
