ISLAMABAD: Fuel prices in Pakistan are expected to see a mixed revision from August 16, with petrol likely to become slightly costlier while diesel and other petroleum products may see notable cuts, industry estimates suggest.
Sources said the petroleum industry has proposed a Rs1.32 per litre increase in petrol prices, taking the rate from Rs264.61 to Rs265.93. The increase comes despite a drop in global oil prices for other fuels, reportedly due to refining costs and market adjustments.
High-speed diesel prices are projected to fall by Rs11.75 per litre to Rs274.08, while kerosene could drop by Rs6.25 to Rs179.21. Light diesel oil may see a Rs7.11 decrease, bringing it down to Rs163.25 per litre.
The Oil and Gas Regulatory Authority (OGRA) will finalise its recommendations on August 15 for federal government approval. Prime Minister Shehbaz Sharif will give the final nod before the revised prices take effect at midnight between August 15 and 16.
Currently, petrol is priced at Rs264.61 per litre and diesel at Rs285.83 per litre following the August 1 revision, which saw a cut in petrol prices but higher petroleum levies that offset much of the relief. Levies now stand at Rs78.02 per litre on petrol and Rs77.01 on diesel, in addition to a Rs2.50 climate support levy on both fuels.
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