In a major development for the public, a significant decrease in petrol prices is expected across Pakistan starting August 1, according to sources in the petroleum division. The expected reduction comes amid a decline in global oil prices and a modest recovery of the Pakistani rupee against the US dollar.
Officials suggest that petrol prices could be slashed by Rs. 10 to Rs. 15 per litre, while diesel rates may also see a notable cut. The final decision will be announced by the Ministry of Finance after consultation with the Oil and Gas Regulatory Authority (OGRA).
This anticipated drop is seen as much-needed relief for Pakistani citizens, who have been burdened by inflation, high transport costs, and rising utility bills.
Economic experts, however, caution that global market volatility may still influence final pricing. The government is expected to officially announce the revised prices on July 31, effective from midnight, August 1.
