The federal government is likely to announce a decrease in fuel prices for the third consecutive fortnight, effective September 1.

Sources indicate a potential reduction of Rs3.1 per liter for petrol and Rs2.5 per liter for high-speed diesel (HSD).

This decision is primarily driven by the falling prices of international petroleum products.

The government is in the process of finalizing the precise figures, considering the current petroleum levy and general sales tax rates.

The altered prices could be as follows:

• Petrol: Decrease Rs3.1 per liter, from Rs260.96 to Rs257.86.
• High-Speed Diesel (HSD): Decrease Rs2.50 per liter, from Rs 266.07 to Rs 263.57.
• Kerosene Oil: Decrease Rs1.39 per liter, from Rs171.77 to Rs170.38.
• Light Diesel Oil (LDO): Decrease Rs1.96 per liter, from Rs157.02 to Rs155.06.

These anticipated price reductions are directly linked to the recent decline in global oil prices. Over the last two weeks, crude oil prices have dropped by about $2 to $2.30 per barrel.

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The average price of petrol has fallen from $82.50 to $80.40 per barrel, while HSD has decreased from $90.30 to $88 per barrel.

The premium on petrol has been $8.47 per liter, and $5 per liter for HSD.