Third consecutive petrol, diesel price cut on the cards for Pakistanis

ISLAMABAD: The government is reportedly considering another reduction in the prices of petrol and diesel for the upcoming fortnight, which would mark the third consecutive decrease in fuel prices.

If implemented, this reduction will come as a slight relief amid rising inflation, though many low-income earners continue to demand more substantial cuts.

According to recent reports, petrol prices could decrease by Rs2.3 per litre, while the price of high-speed diesel may drop by nearly Rs3 per litre. The new prices, if approved, will take effect from September 1 and remain in force until September 15.

The final prices are expected to be announced on Saturday, August 31, between 10 PM and 12 AM, following consultations with relevant authorities and the Prime Minister.

As of today, the petrol price in Pakistan stands at Rs261.90 per litre across various pumps, including PSO and Shell in Islamabad.

Should the anticipated reductions be confirmed, the price of petrol may be adjusted to Rs258 per litre, down from the current Rs260.96 per litre. Diesel prices could be set at Rs263.76 per litre, reduced from Rs266.07 per litre.

Similarly, kerosene oil is likely to be priced at Rs170.38 per litre, down from Rs171.77 per litre, and light diesel oil may decrease to Rs155.06 per litre from the existing Rs157.02 per litre.

However, it is important to note that these figures are speculative at this stage, with the final decision expected within the next three days.

While any reduction may offer some relief, the modest cuts may not significantly ease the financial burden on inflation-hit consumers, who have been vocal in their demands for more substantial decreases in fuel prices to offset rising commute costs.

Read next: IMF keeps Pakistan waiting on $7 billion loan yet again