In welcome news for inflation-weary consumers, petrol prices in Pakistan are likely to see another drop from August 16, thanks to a sharp fall in global crude oil rates over the past 11 days.
According to market figures, US crude oil has slipped by $5.71 per barrel — from $69.26 to $63.48 — while Brent crude prices have dipped by $5.72, from $71.70 to $65.98. The government will announce the revised domestic rates in its upcoming fortnightly review.
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During the last adjustment, the federal government reduced petrol by Rs7.54 to Rs264.61 per litre but increased diesel by Rs1.48 to Rs285.83 per litre. Speaking in the National Assembly, Minister of State for Petroleum Ali Pervez Malik revealed that although the petroleum levy was increased in April — Rs8 on petrol and Rs7 on diesel — retail prices were not raised at the time.
The minister added that Rs34.87 billion had been collected through the levy by June 30, with the government expecting to generate Rs1.485 trillion in the fiscal year 2025–26. If global trends continue, petrol prices in Pakistan could see further relief in the coming weeks, easing pressure on household budgets.
