Islamabad: Due to the volatility in Pakistan’s economy and the decline in global crude oil prices, there is an expectation of a reduction in petroleum product prices in the country from August 1. This reduction is expected to provide some relief to the public burdened by inflation.
According to sources, the price of petrol is expected to decrease by about Rs 6.82 per liter from August 1, after which the new price may be Rs 265.33 per liter. At present, the price of petrol in the country is Rs 272.15 per liter.
Similarly, the price of high-speed diesel is also likely to decrease by Rs 1.68 per liter, after which the new price of diesel may go up to Rs 282.67 per liter, while the current price of diesel in the market is Rs 284.35 per liter.
The Ministry of Finance and OGRA are expected to announce the prices for August 1 on the night of July 31, however, according to initial reports, the government is in favor of reducing the prices.
