Petrol prices in Pakistan are anticipated to decrease starting September 1 with reductions of upto Rs313 per litre.

According to ARY News, petrol may see a drop of 61 paisas per litre while high speed diesel could experience a more significant cut of Rs3.13 per litre.

Additionally, kerosene oil is likely to become cheaper by Rs1.57 per litre and light diesel may be reduced by Rs2.61 per litre. Initial calculations for these adjustments have reportedly been prepared.

The Oil and Gas Regulatory Authority (OGRA) will submit its findings to the Petroleum Division on August 31 after which the Prime Minister will provide final approval. If approved the price reductions for petrol, diesel and other fuels will take effect at the beginning of September.

Earlier on August 16, the federal government announced new petrol and diesel prices for the upcoming fortnight.

According to a notification from the Ministry of Finance, petrol prices remained unchanged at Rs264.61 per litre, while high speed diesel was reduced by Rs12.84 to rs272.99 per litre.

The notification also noted a cut in kerosene oil prices by Rs7.19 per litre, bringing it down to Rs178.87, while light diesel saw a reduction of Rs8.20 per litre to Rs162.37.

However, the government raised the petroleum levy, limiting the relief for consumers.

They levy on petrol and diesel increased by Rs2.50 per litre with diesel levies rising from Rs74.51 to Rs77.01 per litre.

Furthermore, the freight margin on diesel has been raised by Rs0.20 per litre, now at Rs6.24 per litre. For petrol, the levy increased from Rs75.52 to Rs78.02 per litre.

A climate support levy of Rs2.50 per litre has also been imposed on both petrol and diesel.

The dealer’s margin for both fuels is set at Rs8.64 per litre. While the distributors’ margin is fixed at Rs7.87 per litre. The sales tax rate on petrol and diesel remains zero.