Govt Likely to Give Big Relief in Petrol, Diesel Prices This Week

MS petrol and High-Speed Diesel (HSD) prices are expected to fall this week due to a decline in international oil prices. The federal government is expected to decrease the price of petrol and diesel by Rs. 8.5-9.3 per liter and Rs. 9 per liter each on August 15, 2024. The lower forecast is based on international prices for HSD, petrol, and crude oil, which slid in the current fortnight to $91, $84, and $82 per barrel, respectively. Notably, the Pakistani rupee remained stable at 278 during the period in review. Considering the above, it is expected that the price of HSD is poised to decrease to Rs. 263.7 per liter in Pakistan. Meanwhile, MS rates are expected to fall to Rs. 260-261 per liter. In the previous fortnight, the government cut the petrol price by Rs. 6.17 per liter to Rs. 269.43. Meanwhile, the diesel price was reduced by Rs. 10.86 per liter to Rs. 272.77.