Petroleum product prices in the country are likely to decrease starting August 1. Media reports indicate that petrol prices might drop by up to Rs3 per litre, while high-speed diesel (HSD) could see a reduction of Rs8.50 per litre. Kerosene oil prices are also expected to fall by Rs9.11 per litre due to the decline in global crude oil prices.

Sources from the Ministry of Petroleum Division have noted that the Oil and Gas Regulatory Authority (OGRA) will send the final summary of these price changes to the government.

Read more: Petrol and Diesel Prices Increased for Upcoming Two Weeks

Following the prime minister’s instructions, the finance minister will announce the new prices on July 31.

This adjustment reflects the impact of global oil market fluctuations on domestic fuel costs.