Fuel prices have decreased in the international market, which may result in fluctuations in petroleum products for the next 15 days, starting from August 16.
The concerned authorities have estimated a reduction of Rs. 11.75 per litre in the price of high-speed diesel.
On the other hand, the price of petrol may decrease by Rs. 1.32 per litre; however, the kerosene oil price may decrease by up to Rs. 6.26, and light diesel oil may see a reduction of Rs. 7.11 per litre.
World Energy Agency has announced that this and next year, the crude oil futures has fallen to a 2 months low of $62.7 per barrel due to increasing oil glut.
If these recommendations are approved, then the new price of high-speed diesel will reduce from Rs. 282.83 to Rs. 274.08 per litre.
Read further: Pakistan set for petrol and diesel price cuts amid global oil decline
