Motorists in Pakistan could see lower fuel costs from August 1, as petrol and diesel prices are likely to go down, according to a recent report shared by Arif Habib Limited (AHL).
Industry estimates suggest that the price of petrol, known locally as Motor Spirit (MS), might drop by around Rs6.82 per liter. High-Speed Diesel (HSD) is also expected to see a cut of about Rs1.68 per liter. If these changes are approved, petrol may sell at nearly Rs265.33 per liter, while diesel could cost around Rs282.67 per liter.
Lower Oil Prices Make It Possible
This possible drop is linked to a fall in international crude oil prices. Brent crude averaged $68.75 a barrel in the last two weeks of July, while WTI crude was slightly lower at $65.98 a barrel. The exchange rate also remained steady at about Rs284.25 per US dollar, which helped keep import costs in check.
Government Plans New Levy
Though the drop offers much-needed relief for car owners and businesses, the government is considering reintroducing a petroleum levy of Rs2.50 per liter on both petrol and diesel. This move could slightly reduce the benefit of the price cut, but the final impact on consumers will become clearer once the official prices are announced.
Fuel prices have been a big worry for Pakistanis coping with rising living costs. If the new prices take effect, drivers may feel a bit of relief at the pump, even if it’s short-lived. Many now wait to see what the government will decide as August begins.
