Petrol, diesel prices likely to drop further from Sep 15

LAHORE (92 News) - The prices of petroleum products are likely to drop further from September 15.

Informed sources say that the prices of both petrol and high-speed diesel are likely to fall by around Rs10 per litre.

A $5 per barrel decrease in the prices of petroleum products in the international market is the cause behind the likely drop in petrol and diesel prices in the local market.

Currently, petrol is priced at Rs259.1 per litre and diesel at Rs262.75 per litre in the local market.

Also Read: Petrol price cut by Rs 4.74 per litre

If the government announces a decrease in petrol and diesel prices, it will help ease the financial pressure on middle- and low-income families, who are facing rising costs of living due to inflation.

However, the impact on transport fares and commodity prices may not be immediate, as businesses and transporters often take time to adjust their rates.

Many hope that the likely drop in petrol and diesel prices will bring down the prices of daily necessities and make travel more affordable. It is also seen as a small step towards reducing inflation.

However, if the government increases the petroleum levy, the drop in prices may not be as significant, potentially limiting the relief to consumers.