Govt reduces petrol price by Rs3.63 per litre
Pakistan government cuts petrol price by Rs3.63 per litre but raises high-speed diesel rate by Re0.31 per litre.
In brief
Pakistan government cuts petrol price by Rs3.63 per litre but raises high-speed diesel rate by Re0.31 per litre. Pakistan's government reduced petrol prices by Rs3.63 per litre to Rs390.23 while increasing high-speed diesel rates by Re0.31 per litre to Rs396.96 amid Middle East conflict. Originally reported by Dawn.
Government adjusts fuel prices
The government reduced petrol price by Rs3.63 per litre but raised high-speed diesel (HSD) by Re0.31 per litre.
New petrol and diesel prices
Petrol will retail at Rs390.23 per litre, while HSD will cost Rs396.96 per litre.
Tax and duty rates
The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
Price history
HSD price dropped from Rs520.35 on April 3 to current levels after rising from Rs281 per litre following the US-Iran war.
Petrol price history
Petrol peaked at Rs458.41 on April 3 after starting from Rs266 in early March.
Austerity measures
The government reintroduced austerity measures including closing markets by 9pm and cutting official vehicle fuel allocations by 50% for three months.
Relief scheme
Prime Minister Shehbaz Sharif announced a relief scheme for motorcycles, autos, and vehicles up to 800cc to alleviate rising oil prices.
Daily pricing decision
Petroleum Minister Ali Pervaiz Malik announced fuel prices would be fixed daily due to international market fluctuations following renewed US-Iran hostilities.
Previous pricing system
The government previously announced weekly fuel price revisions since early March amid Middle East conflict concerns.
Impact on public
Petrol price changes affect middle and lower-middle classes, while diesel impacts heavy transport, power plants, and generators.
Market significance
Petrol and HSD are major revenue earners with monthly sales of 700,000 to 800,0.000 tonnes compared to 10,000 tonnes of kerosene.
Next steps
The Oil and Gas Regulatory Authority (Ogra) will decide fuel prices daily based on international market trends.
The short version
Pakistan's government reduced petrol prices by Rs3.63 per litre to Rs390.23 while increasing high-speed diesel rates by Re0.31 per litre to Rs396.96 amid Middle East conflict.
