Govt may announce another petrol price cut this week 

ISLAMABAD: Pakistanis may get some welcome relief at the fuel pumps this week, as the government is expected to announce a moderate cut in petrol price on Friday night, August 15. The change, which would take effect from August 16 to 31, is being attributed to a decline in international oil rates.

According to market insiders, petrol price in Pakistan could fall by around Rs8 per litre, offering some respite for daily commuters and transporters who rely heavily on fuel. The anticipated drop comes right after the Independence Day holiday, raising hopes of a timely piece of good news for consumers.

International crude prices have been under pressure over the past 11 days, with US crude slipping by $5.71 per barrel to $63.48 and Brent crude falling by $5.72 to $65.98. This downward trend, coupled with a slight reduction in the petrol import premium, is behind the expected price revision.

Current petrol prices

Currently, the ex-depot price of petrol in the country stands at Rs264.61 per litre and high-speed diesel (HSD) at Rs285.83 per litre. In cities such as Islamabad, Rawalpindi, Lahore, Gujranwala and Sialkot, petrol is selling at Rs265.60 per litre, while hi-octane is priced at Rs282.90 per litre. The price gap between regular and hi-octane petrol has now crossed Rs17, prompting many motorists to opt for the regular MS Super.

Previous petrol price adjustment

In the last fortnight, the government had reduced petrol prices by Rs7.54 per litre but increased HSD by Rs1.48 per litre, based on recommendations from the Oil and Gas Regulatory Authority (OGRA). That revision also saw the ex-refinery price of petrol drop slightly, while the Petroleum Development Levy was raised to Rs77.01 per litre.

If the upcoming cut materialises, transporters are expected to adjust fares in line with the lower fuel rates, potentially providing further relief to the public.

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