In a welcome development for consumers burdened by rising inflation, petroleum product prices in Pakistan are anticipated to decrease once more starting August 16. This expected reduction follows a continuous decline in global crude oil prices over the past 11 days, easing some pressure on domestic fuel costs.
Market data reveals that US crude oil prices have fallen by $5.71 per barrel, dropping from $69.26 to $63.48. Similarly, Brent crude has experienced a decrease of $5.72 per barrel, moving from $71.70 down to $65.98. The government is scheduled to adjust domestic petroleum prices accordingly on August 16, reflecting these global market trends.
In the previous fortnightly price review, the federal government reduced petrol prices by Rs7.54 per litre, setting the new price at Rs264.61, while diesel prices were increased slightly by Rs1.48 to Rs285.83 per litre. These adjustments were part of ongoing efforts to balance fuel costs amid fluctuating global oil rates.
During the National Assembly’s Question Hour, Minister of State for Petroleum Ali Pervez Malik disclosed that a petroleum levy hike was imposed on April 16, with an Rs8 increase on petrol and Rs7 on diesel. However, consumer prices were not raised at that time. The minister also shared that the government collected Rs34.87 billion from this levy until June 30, and projects revenue of Rs1.485 trillion from petroleum levies for the fiscal year 2025–26.
