OGRA Prepares New Fuel Rates Amid Crude Price Fall
Fuel prices in Pakistan are expected to drop again from 16 August, offering some relief to motorists and transport operators struggling with high costs.
Industry officials say the anticipated reduction is linked to a notable decline in global crude oil prices over the past 11 days.
Data shows that US crude (WTI) has fallen by $5.71 per barrel, slipping from $69.26 to $63.48. Brent crude has also dropped sharply by $5.72, now trading at $65.98 per barrel compared to $71.70 earlier this month.
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The Oil and Gas Regulatory Authority (OGRA) is finalising its revised petroleum rates, which are due to be submitted to the Ministry of Finance by 15 August.
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Once reviewed and approved by the federal government and the Prime Minister, the new prices will take effect on 16 August and remain in place until the end of the month.
This adjustment follows the last revision, in which petrol was reduced by Rs7.54 per litre, while diesel saw a modest increase of Rs1.48 per litre, applicable until 15 August.
At present, petrol (Super) costs Rs264.61 per litre, while diesel stands at Rs285.83 per litre. Analysts expect that both fuels will see a downward revision this time, driven by the drop in global benchmarks.
