What will be new petrol price in Pakistan from Sept 16?

ISLAMABAD: Petrol price is likely to go down in Pakistan this week owing to the drop in global oil prices.

Petrol and diesel prices are expected to become cheaper by Rs12  per litre each, sources said.

Meanwhile the price of kerosene oil is also expected to drop by up to Rs8 per litre.

The final price of petrol products, based on the fluctuations in the global market,  is likely to be announced by the the eve of September 15.

The government, earlier on August 14, had slightly reduced the petroleum prices.

The petrol price was reduced by Rs 1.86 per litre, bringing the new price to Rs 259.10, while the High-speed diesel saw a reduction of Rs 3.32 per litre, now costing Rs 262.75.

It should be noted here that Gglobal oil benchmark Brent crude futures settled at their lowest level since December 2021 on Tuesday, after OPEC+ revised down its demand forecast for this year and 2025, offsetting supply concerns from Tropical Storm Francine.