The federal government is expected to announce new petroleum product prices today for the next 15 days, with a decrease likely due to falling international market prices.
If confirmed, this will be the third consecutive reduction since July 31.
Sources suggest that petrol prices could drop by Rs 2.97 per litre, high-speed diesel by Rs 2.31 per litre, kerosene oil by Rs 1.39 per litre, and light-speed diesel by Rs 1.96 per litre. The expected reduction comes as American crude oil prices fell by 3.60% to $74.69 per barrel over the past two weeks, while London Brent oil dropped by 2.34% to $74.69 per barrel.
Previously, the federal government lowered petroleum prices as a ‘gift’ to the public for Independence Day, cutting petrol by Rs 8.47 to Rs 260.96 per litre and reducing high-speed diesel by Rs 6.07 per litre to Rs 266.07 per litre.
On July 31, the government reduced petrol and high-speed diesel prices for the following fortnight by Rs 6.17 and Rs 10.86, respectively. The new prices were Rs 269.43 per litre for petrol and Rs 272.77 per litre for diesel, following approval from Prime Minister Shehbaz Sharif.
