The Oil and Gas Regulatory Authority (OGRA) has drafted a summary proposing a reduction in petrol and diesel prices in Pakistan, according to reliable sources. The summary is scheduled to be submitted to the Petroleum Division on July 31, with final approval resting with Prime Minister Shehbaz Sharif.
As per the proposal, petrol prices could drop by Rs9.07 per litre, while high-speed diesel (HSD) may see a decrease of Rs3.73 per litre. These adjustments, if approved, would offer some relief to consumers amid persistent inflationary pressure.
However, not all fuels are expected to become cheaper. The price of kerosene oil is likely to increase by Rs3.55 per litre, and light diesel oil (LDO) may rise by Rs2.33 per litre, reflecting fluctuations in international oil markets and local refining margins.
Final Decision Due July 31
The government will make the final decision based on the summary submitted by OGRA. If Prime Minister Shehbaz Sharif approves the proposed changes, the new fuel prices will come into effect from August 1 across the country.
These price revisions follow global trends in crude oil rates and are part of the government’s bi-monthly review of petroleum product prices. OGRA calculates prices based on several factors, including import costs, exchange rates, and global market trends.
Motorists and transporters are closely watching the decision, which could significantly impact transportation costs and general inflation levels in the coming weeks.
