From August 16, Pakistan is expected to revise petroleum product prices, with petrol likely to see a slight increase, while diesel, kerosene, and light diesel oil prices are expected to drop.
According to sources, an increase of 1 rupee 32 paisas per liter in the price of petrol has been proposed, which will raise the current price from 264 rupees 61 paisas to 265 rupees 93 paisas.
This increase is expected at a time when a decrease in the prices of other fuels is being seen in the global market; however, due to market adjustments and refining costs, the price of petrol is being increased.
The price of high-speed diesel is expected to decrease by 11 rupees 75 paisas per liter, bringing it down from 285 rupees 83 paisas to 274 rupees 8 paisas.
The price of kerosene may decrease by 6 rupees 25 paisas per liter, bringing it down to 179 rupees 21 paisas, while the price of light diesel oil may decrease by 7 rupees 11 paisas, bringing it down from 170 rupees 36 paisas to 163 rupees 25 paisas.
The Oil and Gas Regulatory Authority (OGRA), based on the estimates of the petroleum industry, will prepare its final summary and send it to the federal government on August 15, which will be approved by Prime Minister Shehbaz Sharif. If approved, the new prices will be implemented from midnight between August 15 and 16.
According to the recent notification from the Ministry of Finance, from August 1, the price of petrol was reduced by 7 rupees 54 paisas, while the price of diesel was increased by 1 rupee 48 paisas. The new price of petrol was set at 264 rupees 61 paisas, and the price of diesel was set at 285 rupees 83 paisas.
