Petrol prices expected to decrease by Rs5.50 per litre from August 1

ISLAMABAD: The price of petrol in Pakistan is expected to be reduced by Rs5.50 per litre from August 1 due to the decrease in crude oil prices in the global market.

According to Aaj Urdu, petroleum products could become cheaper by up to Rs11 per litre starting from August 1.

Sources indicate that there is a likelihood of a reduction of up to Rs5.50 per litre in petrol prices in the next fortnightly review scheduled for July 31.

In the past 10 days, crude oil prices have decreased in the global market. It is likely that the relief from the global price reduction will be passed on to the public.

Read more: Finance Minister urges to enhance public services to justify tax increases

The government on July 15 increased the petrol price in Pakistan by Rs9.99 per litre and the diesel price by Rs6.18 per litre for the remaining month of July 2024. The hike increased the petrol price to Rs275.60 per litre.