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Petrol prices likely to drop again in Pakistan
In a potential relief for consumers, petrol prices in Pakistan are expected to decrease in Pakistan for the third time in a row, GTV citing it sources reported on Saturday.
According to sources, a relief of Rs5-6 per litre is expected on petrol and high-speed diesel prices on September 01 till the next fortnight.
The relief is likely to be provided mainly due to the fall in prices in the international market.
In the last 15 days, the prices of petrol and HSD in the international market have decreased from $2 to $2.30 per barrel.
Depending on the calculation of the final exchange rate and the current tax rates, the prices of both petrol and HSD are likely to be reduced by Rs5 to Rs5.50 per liter.
According to officials, the average price of petrol in the international market has come down from $82.50 per barrel to $80.40 per barrel.
Over the past 15 days, HSD has dropped from $90.30 a barrel to $88 a barrel.
At present, the price of petrol is being retailed at Rs260.96 per liter and the price of high speed diesel is Rs266.07 per liter.
It is to be noted that the federal government has reduced the prices of petrol and diesel by Rs8.47 and Rs6.70 per liter respectively on the occasion of Independence Day.