Pakistan is poised to experience a significant reduction in fuel prices, with a potential decrease of up to Rs11 per liter for petroleum products starting August 1, according to sources.

The anticipated price drop comes in response to a recent decline in global crude oil prices over the past 10 days.

Sources indicate that the price of petrol could decrease by up to Rs5.50 per liter for the next 15 days, while diesel prices may see a reduction of up to Rs11 per liter.

Kerosene is also expected to become cheaper, with a potential decrease of Rs5.84 per liter starting August 1. Light diesel prices are also expected to drop by up to Rs5 per liter.

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Sources suggest that the new prices will be calculated based on the zero exchange rate for the next 15 days. However, the government may adjust or increase tax levels to maintain current prices.

The anticipated price reductions are expected to bring relief to consumers grappling with high fuel costs.