Govt to announce fourth consecutive cut in petrol price?

ISLAMABAD: Pakistanis are expecting a fourth straight cut in petrol and diesel prices for the rest of the ongoing month.

A number of news reports circulating on the internet suggest that a “massive” reduction is likely in the coming days. The reason behind this speculation is the decline in international oil prices, which pushed petroleum prices to multi-year lows.

In the last fortnightly review, the government reduced the petrol price by only Rs1.86 per litre, bringing the new price to Rs259.10. Meanwhile, high-speed diesel saw a reduction of Rs3.32 per litre, with the current price at Rs262.75 at petrol pumps in Karachi, Lahore, and Islamabad, with a few paisa difference.

Earlier this week, reliable sources predicted a bigger reduction in petrol and diesel prices, with many forecasting a decrease of more than Rs10 per litre.

However, as of today, a prominent news channel has reported that, following a decline in inflation, the petrol price in Pakistan will be reduced by Rs12 per litre. If implemented, this reduction would bring the petrol price down to Rs247.1 per litre, while the diesel price would drop to Rs250.75 per litre.

Currently, the price of petrol in Pakistan is Rs3.65 cheaper than diesel.

The final decision regarding the petrol price reduction will be made on September 15, with the government set to implement the revised prices from September 16.

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