The News has reported that petroleum product prices in Pakistan are expected to see mixed changes from August 16 for the next fortnight, driven by a drop in global oil rates. Officials have calculated a reduction of Rs11.75 per litre in the price of high-speed diesel (HSD), while petrol is projected to rise by Rs1.32 per litre.
The price of kerosene is likely to fall by Rs6.25 per litre, and Light Diesel Oil (LDO) may see a decrease of Rs7.11 per litre. The new price of HSD is expected to settle at approximately Rs274.08 per litre, down from the existing Rs285.83. However, the price of Mogas (petrol) is likely to increase to Rs265.93 from the current Rs264.61. The new price of LDO may fall to around Rs163.25 from the existing Rs170.36 per litre.
The government is already charging a Petroleum Levy and Carbon Levy of Rs80.52 on petrol and Rs79.51 on HSD, in addition to an IFEM (Inland Freight Equalization Margin) of Rs8.70 on petrol and Rs4.06 on diesel.
These changes are a result of a decline in global oil prices. WTI crude oil futures dropped to $62.7 per barrel, a two-month low, after the International Energy Agency forecasted a growing oil surplus this year and next. The forecast suggests inventories will rise at a record pace and hit a 46-month high by June 2026.
