ISLAMABAD: After four consecutive price hikes, fuel consumers in Pakistan may finally see relief as petrol and diesel prices are expected to decrease by Rs9 and Rs3.50 per litre, respectively, in the upcoming fortnight ending August 15. The anticipated cuts are attributed to easing global oil prices and a sharp reduction in petrol import premiums, which fell from \$9.70 to \$6.75 per barrel amid stabilizing regional tensions.
Currently, petrol is priced at Rs272.15 per litre, following a cumulative Rs20 increase since May 15, directly affecting private vehicle owners and lower-income households. High-speed diesel (HSD), used mainly in heavy transport and agriculture, stands at Rs284.64 per litre — up nearly Rs28 since mid-May. While prices may drop for the first time in over two months, transport fares, which typically rise with fuel hikes, are unlikely to decrease.
In contrast, kerosene and light diesel oil (LDO) may see increases of Rs3.50 and Rs2.25 per litre, respectively.
Despite zero-rated GST on petroleum products, the government continues to collect around Rs98 per litre on petrol and diesel through petroleum levy, climate support levy (Rs2.25), customs duties, and dealer margins. Fuel remains a major revenue stream, with projected collections reaching Rs1.470 trillion in FY2025 — up 27% from the previous year.
