Islamabad: Residents of Islamabad can look forward to a potential decrease in petrol and diesel prices beginning September 1st, providing some respite from ongoing inflation pressures.

According to Zameen.Com, the proposed reductions are not yet finalized, but initial estimates suggest a decrease in petrol prices by PKR 2.90 to PKR 6 per litre and diesel by up to PKR 6 per litre. The variance in predicted rates stems from recent movements in crude oil prices, which have fallen by USD 2 to USD 2.30 per barrel internationally.

As of late August, petrol prices stand at PKR 260.96 per litre and high-speed diesel at PKR 266.07 per litre, following a recent cut of PKR 8.47 per litre in celebration of Independence Day. The Oil and Gas Regulatory Authority (OGRA) is set to review and finalize the new pricing on August 31, aiming to alleviate the economic burden on consumers.