KARACHI – Good news for the people of Pakistan as petrol and diesel prices are expected to drop in the second half of August 2024.
According to initial reports, the PML-N-led coalition government is planning to provide some relief to the public by potentially reducing petrol prices by up to Rs9 per litre and diesel prices by around Rs8 per litre. Additionally, kerosene oil prices might see a decrease of Rs12 per litre.
The Oil and Gas Regulatory Authority (OGRA) is considering these reductions due to a recent decline in global oil prices. OGRA is expected to present its recommendations to the government on August 15, after which the finance minister will announce the updated prices following a discussion with Prime Minister Shehbaz Sharif.
Last month, the government had already reduced petrol prices by Rs6.17 per litre, bringing it down to Rs269.43, while high-speed diesel was lowered by Rs10.86 to Rs272.77 per litre.