In Pakistan, petrol and diesel prices are expected to decrease in the second half of August, following a significant decline in global crude oil prices over the past 11 days.
Market data shows that U.S. crude oil prices have fallen by $5.71 per barrel, dropping from $69.26 to $63.48 per barrel, while Brent crude prices have decreased by $5.72, from $71.70 to $65.98 per barrel.
According to sources, the Oil and Gas Regulatory Authority (OGRA) will determine the new prices and submit them to the Ministry of Finance by August 15.
After the Prime Minister’s approval, the revised prices will take effect on August 16 and remain in place until the end of the month.
In the last fortnightly review, the price of petrol was reduced by Rs 7.54 per litre, while the price of high-speed diesel was increased by Rs 1.48 per litre, bringing it to Rs 285.83 per litre.
