Petrol prices expected to drop by Rs13 per litre tonight

ISLAMABAD: The government is expected to announce a revised petrol price tonight, with predictions indicating a notable cut of up to Rs13 per litre. If implemented, this would mark the fourth consecutive reduction in petrol price, potentially bringing the rate down to approximately Rs246 per litre, unless the government raises the petroleum levy.

The expected timeline for the announcement is between 9:00 pm and 11:30 pm The anticipated reduction follows a 7% drop in international petroleum product prices over the past two weeks.

Similarly, the price of high-speed diesel (HSD) is expected to see a cut of around Rs11 per litre due to a decline in its global cost.

Expected Petrol Rates in Pakistan from September 16 

In the previous fortnight, the government reduced petrol prices by Rs1.86, bringing the rate to Rs259.1 per litre, while the price of HSD was lowered by Rs3.32 to Rs262.75 per litre. The new prices, expected to be announced around midnight, will remain effective for the rest of the month.

The government’s decision to revise fuel prices is a welcome move, providing relief to consumers amidst rising inflation. However, it remains to be seen whether the government will increase the petroleum levy to offset the revenue loss. The revised prices will be closely watched by consumers and industry experts alike, as they await the official announcement tonight.