The government has marginally reduced petrol prices by Rs1.86 per litre for the next two weeks, following approval from Prime Minister Shehbaz Sharif.
This slight decrease falls short of the anticipated Rs6 per litre, with many Pakistanis expecting a reduction of at least Rs3.10 per litre.
Effective from September, the new petrol price in Pakistan will be Rs259.10 per litre, down from Rs260.96. The price of high-speed diesel (HSD) has also been lowered by Rs3.32 per litre, bringing it down to Rs262.75 from Rs266.07.
Additionally, the prices of kerosene oil and light diesel oil have been cut by Rs2.15 and Rs2.97 per litre, respectively, reducing their prices to Rs169.62 and Rs154.05 per litre.
Read more: Exchange rates: PKR gains 10 paisa against US dollar, Rs2.35 versus Swiss Franc
This marks the third consecutive reduction in petroleum product prices, with a total decrease of Rs16.5 per litre for petrol since July 30. In the previous fortnightly review, petrol and diesel prices were reduced by Rs8.47 and Rs6.70 per litre, respectively.
It remains unclear whether this minimal price reduction will impact public transport fares or ride-hailing services, and it is unlikely to significantly ease daily commuting costs for motorists. Nonetheless, the prices are decreasing rather than rising.
