Petrol price is likely to decrease by Rs3.29 per litre and diesel by Rs3.13 per litre, government sources say

Sources say petrol prices could potentially go down by up to Rs12 per litre for second fortnight of August

The authorities decrease petrol price by Rs6.17 per liter, after the cut, the petrol price settles at Rs269.43 per liter

The sources say that the prices of petrol and diesel are likely to drop by Rs5 and Rs4 per liter, respectively.

The notification issued by the Ministry of Finance shows that high-speed diesel (HSD) has been increased by Rs8.14 per litre for the next fortnight, effective until April 30.

The sources say that Prime Minister Shehbaz Sharif has also sought a forensic audit report regarding recent increase in the gas prices.

High-speed diesel will now cost Rs285.56 per liter, up from Rs283.79, potentially impacting inflation due to its extensive use in transportation and agriculture.

The mission is part of Pakistan's ongoing efforts to manage a complex path to economic recovery under the stewardship of a caretaker government, following the approval of an IMF loan program in July.

Industry experts suggest that the recent devaluation of the rupee against the dollar in the interbank market might mitigate the extent of this price increase.

The petroleum division informs the Oil and Gas Regulatory Authority (OGRA) about their intention to work on revising gas prices.