Petrol price expected to go down by Rs9 per litre

Prices of petrol and diesel are expected to go down for the upcoming fortnight starting August 1.

Petrol is likely to decrease by Rs9.07 per litre, while high-speed diesel (HSD) may be reduced by Rs3.73 per litre, media reports said, quoting official sources.

In contrast, the price of kerosene oil is expected to rise by Rs3.55 per litre, and light diesel oil (LDO) may see an increase of Rs2.33 per litre.

The Oil and Gas Regulatory Authority (OGRA) is scheduled to submit its fuel rates summary to the Petroleum Division on July 31.

The final decision will be made by Prime Minister Shehbaz Sharif, with the revised rates coming into effect from August 1.

The last revision in petroleum product prices was made on July 15, when petrol was increased by Rs5.36 per litre and HSD by Rs11.37 per litre. At the same time, the price of light diesel oil was reduced by Rs1.85 per litre.

Currently, petrol is being sold at Rs272.15 per litre, while high-speed diesel stands at Rs284.35 per litre.

Earlier on July 1, petroleum prices were also increased, with petrol increasing by Rs8.36 to Rs266.79 per litre, and HSD jumping by Rs10.39 to Rs272.98 per litre.