Following two consecutive increases, petrol and high-speed diesel prices are projected to drop starting August 1 for the next two weeks. Petrol prices are expected to decrease by approximately Rs. 2.90 per liter, while Diesel prices may fall by around Rs. 8.50 per liter. 

Also Read: Affordable Plots Now Available Across Pakistan

This anticipated price drop is due to lower international market prices and reduced import premiums.  In recent weeks, the international prices for petrol and HSD have decreased by about $2 and $3 per barrel, respectively. 

Specifically, the price of petrol in the global market has dropped from $89.50 to $87.50 per barrel, and Diesel prices have fallen from $96.93 to $94 per barrel. Additionally, the import premiums have decreased, with petrol falling from $9 to $8.80 per barrel and HSD from $6.50 to $5 per barrel. During this period, the exchange rate has remained relatively stable.  

In the current Finance Bill, the government has increased the maximum petroleum levy limit to Rs. 70 per liter, with a goal to collect Rs. 1.28 trillion in the next fiscal year. This is an increase from the Rs. 960 billion collected in the previous fiscal year, which was Rs. 91 billion above the budget target of Rs. 869 billion.  At present, the ex-depot price for petrol is Rs. 275.60 per liter, and for HSD, it is Rs. 284 per liter. 

With the anticipated price reductions, petrol is expected to remain above Rs. 272 per liter, while HSD may approach Rs. 275 per liter, assuming no additional increase in the petroleum levy rate.

For more news and updates, visit the Al Sadat Marketing Website.