Islamabad September 9 2024: Due to the decline in international prices of petrol and diesel, local prices in Pakistan are expected to drop on September 15, 2024.
Petrol prices are likely to decrease by PKR 11.0 per liter, while High Speed Diesel (HSD) could see a reduction of PKR 11.5 per liter.
This expected downturn is based on the decline in international oil prices. If approved, consumers could pay PKR 247.60 per liter for petrol and PKR 251.75 per liter for HSD from September 16, 2024, to September 30, 2024.
Previously, the government announced a decrease of PKR 1.86 per liter for petrol and PKR 3.32 per liter for diesel on August 31, 2024.
Additionally, the government announced an increase in the Petroleum Development Levy (PDL) from PKR 60 per liter to PKR 70 per liter, though the PDL was kept unchanged. If the government increases the PDL by PKR 5 per liter for both products, the decline in petrol and diesel prices will be limited to PKR 5.5 per liter and PKR 5.0 per liter, respectively.
