ISLAMABAD- Petrol prices in Pakistan remain same from August 16 for the next fortnight, with significant cuts applied to diesel oil following a drop in global oil rates.
According to reports, the price of high-speed diesel (HSD) has been slashed by Rs12.85 per litre, petrol remains the same.
With the new rates in effect, HSD now costs Rs274.08 per litre, down from Rs282.83. Petrol prices remain Rs264 per litre.
On the international market, WTI crude oil futures dropped to $62.7 per barrel, the lowest in more than two months, after the International Energy Agency forecasted a growing oil surplus in 2025 and 2026. Global inventories are projected to hit a 46-month high by June 2026, aligning with similar US government projections.
US oil production is expected to peak this year before easing in 2026, aided by improved efficiency at existing wells. These global trends have contributed to the downward revision of petrol prices in Pakistan.