Pakistan to Cut Fuel Prices for Third Consecutive Week

The Pakistani government is set to announce another reduction in fuel prices, marking the third consecutive fortnight of price cuts. The reduction, effective September 1st, is expected to see a decrease of Rs3.1 per liter for petrol and Rs2.5 per liter for high-speed diesel (HSD). This decision is attributed to the recent fall in international petroleum product prices. The government is currently finalizing the exact figures, taking into account the current petroleum levy and general sales tax rates. The anticipated price adjustments include a reduction of Rs3.1 per liter for petrol, bringing the price down to Rs257.86 from Rs260.96. High-Speed Diesel (HSD) is expected to decrease by Rs2.50 per liter, moving from Rs266.07 to Rs263.57. Kerosene oil and light diesel oil are also set to experience price reductions, with estimated decreases of Rs1.39 and Rs1.96 per liter, respectively. These anticipated price cuts are directly linked to the recent decline in global oil prices, which have dropped by about $2 to $2.30 per barrel in the past two weeks.