The prices of petrol and diesel in Pakistan are expected to decrease from August 16, with petrol likely to drop by Rs8.36 per liter and diesel by Rs7.70 per liter. This reduction is primarily attributed to decreased consumption in major economies and reduced demand for petroleum products due to heavy rains in the region.
In India, a significant decrease in diesel usage has led to a drop in its international market price. Despite concerns of a potential price hike due to geopolitical tensions, particularly Iran’s threat to attack Israel, stability in the Middle East has been maintained, aided by the U.S. decision to deploy military assets in the region.
Official sources indicate that the final prices are still subject to change as fluctuations in international oil prices continue. However, the projected new prices could see petrol priced at Rs261.07 per liter, down from Rs269.43, and diesel at Rs265.05 per liter, down from Rs272.77. Kerosene oil and light diesel oil are also expected to see reductions.
Earlier this month, the government reduced the price of petrol by Rs6.17 per liter and high-speed diesel by Rs10.86 per liter. The Internal Freight Margin on petrol stands at Rs7.79 per liter, and for diesel, it is Rs4.51 per liter. The premium on petrol is $8.48 per barrel, while for diesel, it is $5 per barrel.
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