Advertisement
Categories: BusinessNewsPakistan

Fuel Prices Likely to Drop from August 1st

Advertisement

The price of petroleum products in Pakistan is expected to decrease from August 1, 2024, for the first half of the month, pending government approval.

Industry sources indicate a potential reduction of Rs 5.50 per litre for petrol, bringing the price down to Rs 270.10 per litre from the current Rs 275.60.

Similarly, high-speed diesel (HSD) may see a significant reduction of Rs 11.06 per litre, lowering its price to Rs 272.57 from Rs 283.63 per litre. Kerosene oil is projected to decrease by Rs 5.84 per litre, setting the new price at Rs 177.87 per litre, while light diesel oil (LDO) could drop by Rs 5.07 per litre, resulting in a new price of Rs 161.18 per litre.

Read also: Govt to Deregulate Petroleum Prices, Granting Oil Companies Pricing Power

The proposed price cuts are influenced by various factors, including a recent decline in global oil prices. The price of a barrel of Brent oil has decreased to $79.35 on the London ICE exchange, while the price of Light oil on the New York NYMEX exchange has fallen to $75.35.

The final decision will depend on the government’s assessment of the financial implications for the energy sector.

Advertisement
News Desk

Recent Posts

Bunnie XO Unready for Dating Post-Jelly Roll Split, Discloses on Podcast

Bunnie XO, 46, has not yet signaled her readiness to re-enter the dating scene following…

4 minutes ago

12-Year-Old Madrassa Student Dies After Alleged Teacher Torture in Lahore

A 12-year-old seminary student, Ali Haider from Bahawalnagar, died after alleged severe torture by a…

10 minutes ago

Harry Styles Collapses on Wembley Stage Amid Heatwave Concerns

Harry Styles Experienced Health Issue at Wembley Concert British singer Harry Styles choked on water…

1 hour ago

Israeli Attack Kills Three Palestinians in Central Gaza, Including Police Officers

Israeli Attack Kills Three Police Officers in Maghazi Refugee Camp An Israeli attack on a…

2 hours ago

Meghan Markle to Gift King Charles a Thoughtful Present

Royal expert reveals Meghan Markle's special gift for King Charles Meghan Markle plans to present…

2 hours ago

Will Vickers Travels 7 Countries for 7 World Cup Games Amid Budget Constraints

Will Vickers, an ardent World Cup enthusiast, has found a more affordable way to follow…

2 hours ago