Pakistan Petrol Prices Expected to Drop After Crude Decline
The Government of Pakistan is expected to reduce fuel prices on July 28 following a drop in global crude oil costs.
Petrol prices in Pakistan are expected to decrease on July 28 as global crude oil prices fall. Brent crude futures dropped nearly 6% to approximately $91.08 per barrel, while West Texas Intermediate declined to $84.51. This market shift follows a decision by Donald Trump and the government of Iran to halt military strikes over the weekend to pursue a diplomatic solution.
Analysts predict a price reduction between Rs5 and Rs12 per litre for both petrol and high-speed diesel. Petrol is currently priced at Rs335.18 per litre, while high-speed diesel stands at Rs383.46. This anticipated relief follows a sharp increase of up to Rs60 per litre over the previous week.
The Oil and Gas Regulatory Authority is tasked with calculating these adjustments, though the final relief depends on whether the federal government maintains or increases existing petroleum levies. Currently, taxes and margins account for Rs125.95 of the petrol price, including a Rs80 Petroleum Development Levy. While the regulator prepares revisions, oil marketing companies have opposed a proposed mechanism for daily price revisions, claiming such a system would disrupt supply chains and inventory management.
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