HomeBusinessMajor reduction in fuel prices expected | The Express Tribune

Major reduction in fuel prices expected | The Express Tribune

By News Times HD

July 31, 2024

Following a decline in global crude oil prices, Pakistan is expected to see a significant reduction in petroleum product prices.

Sources indicate that from August 1, petroleum prices could decrease by up to Rs11 per litre.

The price of petrol may drop by Rs5.50 per litre, while high-speed diesel (HSD) could see a reduction of up to Rs11 per litre.

Kerosene is anticipated to become cheaper by Rs5.84 per litre, and light diesel oil may decrease by Rs5 per litre.

Over the past ten days, global oil prices have fallen, prompting the Oil and Gas Regulatory Authority (OGRA) to adjust local prices accordingly.

The new rates will be finalised today and officially notified after the prime minister’s approval.

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