Petrol Prices Expected to Drop Below PKR 250 Per Liter Starting September 16

Fuel Type	Current Price	Expected Reduction	New Price (Expected September 16, 2024)
Petrol	PKR 259.10	PKR 11.00 per liter	PKR 247.60 per liter
High-Speed Diesel	PKR 262.75	PKR 11.50 per liter	PKR 251.75 per liter

Overview

Petrol and diesel prices in Pakistan are expected to decline starting September 16, 2024, due to a drop in global oil rates. This decrease represents the fourth relief measure amidst falling international oil prices. The anticipated reductions are based on these global price trends.

Recent Adjustments

On August 31, 2024, the government reduced petrol prices by PKR 1.86 per liter and diesel prices by PKR 3.32 per liter.

Petroleum Development Levy Impact

The government had proposed increasing the Petroleum Development Levy (PDL) from PKR 60 per liter to PKR 70 per liter. If the PDL is raised by PKR 5 per liter for both petrol and diesel, the effective reduction in prices might be limited to PKR 5.50 per liter for petrol and PKR 5.00 per liter for diesel.