Petrol prices are likely to drop from September 1, 2024

Petrol and diesel prices likely to drop significantly for the third time in a row. During the last 15 days, the prices of petrol and diesel in the global market have fallen by 2 to 2.30 dollars per barrel.

The possibility of reduction in the prices of petroleum products in the country has been shown. According to media reports, the average price of petrol in the global market has decreased from 82.50 dollars per barrel to 80.4 dollars per barrel, due to which the price of oil in the local market may decrease significantly.

During the last 15 days, the prices of petrol and diesel in the global market have decreased by 2 to 2.30 dollars per barrel. Due to which the price of petrol and diesel is likely to decrease by 5 to 6 rupees per liter from September 1 to the next 15 days.

It has been reported that the price of ex-depot petrol in Pakistan at present is Rs 260.96 per liter and diesel price is Rs 266.7 per litre. In its last review on August 14, the government had reduced the prices of petrol and diesel by Rs 8.47 and Rs 6.70 per litre, respectively.

After which the new per liter price of petrol is 260 rupees 96 paise while the new price of diesel has become 266 rupees 7 paise. The fall in prices was made possible by the cheapening of crude oil globally.

Earlier, the government had announced a reduction in the prices of petroleum products on July 31. The price of petrol was reduced by Rs 6.17 per liter while the price of diesel was reduced by Rs 10.86 per litre.

Apart from this, the prices of kerosene and light speed diesel were also reduced. Kerosene fell by Rs 6.32 to Rs 177.39 while Light Speed ​​Diesel fell by Rs 5.72 to Rs 160.53 per litre. After the approval of the Prime Minister, the Ministry of Finance had issued an official notification of reduction in the prices of petroleum products.