Petroleum product prices in Pakistan are set to undergo mixed changes from August 16, with a significant drop in diesel prices and a slight increase in petrol rates, according to sources. Diesel is expected to see a reduction of Rs11.75 per litre, while petrol prices are projected to rise by Rs1.32 per litre.
The price of high-speed diesel (HSD) is likely to decrease by Rs11.75 per litre, with the new price settling at Rs274.08, down from Rs282.83. Meanwhile, petrol (Mogas) is projected to rise by Rs1.32 per litre, bringing the price to Rs265.93, up from the current Rs264 per litre.
In addition, kerosene is expected to see a decline of Rs6.25 per litre, with its price potentially dropping to Rs140.11 per litre from the existing Rs146.36. Light Diesel Oil (LDO) is also projected to see a decrease of Rs7.11, bringing its price down to Rs163 per litre from the current Rs170.36.
These price adjustments come amid a fall in global oil prices, with West Texas Intermediate (WTI) crude oil futures dropping to $62.7 per barrel, marking the lowest price in over two months. This price dip is linked to forecasts by the International Energy Agency (IEA), which predicts a growing oil surplus in the coming months.
The IEA anticipates that inventories will rise at a record pace and reach a 46-month high by June 2026. This outlook is supported by the US government, which also projects that US oil production will peak this year before seeing a decline next year, due to greater efficiency at existing wells.
These changes in oil prices are expected to impact the cost of living in Pakistan, as the government imposes Petroleum and Carbon Levies, along with the Inland Freight Equalization Margin (IFEM), on petroleum products.
