ISLAMABAD — Fuel prices in Pakistan are set for mixed changes from August 16, with petrol expected to see a marginal increase and diesel rates projected to drop sharply, according to industry sources.
Initial calculations indicate that petrol may become costlier by Rs1.32 per litre, pushing its price from Rs264.61 to Rs265.93 per litre. In contrast, high-speed diesel (HSD) is likely to witness a steep cut of Rs11.75 per litre, reducing its price from Rs285.83 to Rs274.08 per litre.
Other petroleum products are also expected to become cheaper. Kerosene oil could see a reduction of Rs6.25 per litre, bringing its new rate to Rs179.21 per litre, while light diesel oil (LDO) may drop by Rs7.11 per litre, settling at Rs163.25 per litre.
The petroleum ministry has prepared preliminary price proposals, which will be sent to Prime Minister Shehbaz Sharif after consultations with the finance ministry. Exchange rate fluctuations and petroleum levy adjustments will also be factored in before the rates are finalised.
The Oil and Gas Regulatory Authority (OGRA) is scheduled to submit its summary to the federal government on August 15. Upon the prime minister’s approval, the official notification will be issued, and the new prices will come into effect from midnight on August 16.
