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.
In brief
Pakistan government cuts petrol price by Rs3.63 per litre but raises high-speed diesel rate by Re0.31. 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. 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 high-speed diesel 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 a peak of rs520.35 recorded on april 3 to current levels after rising from rs281 per litre following the us-iran war.
Petrol price history
Petrol price peaked at rs458.41 on april 3 after beginning its upward trajectory from rs266 in the first week of march.
Austerity measures
The government reintroduced austerity measures including closing markets by 9pm and cutting fuel allocations for official vehicles by 50 percent for three months.
Relief scheme
Prime minister shehbaz sharif announced a relief scheme for motorcycle, auto and vehicle users up to 800cc to alleviate rising global oil prices.
Daily pricing decision
Petroleum minister ali pervaiz malik announced fuel prices would now be fixed daily based on international market trends.
Previous pricing system
The government had been announcing weekly revisions to fuel prices since early march alongside conservation measures amid possible oil supply disruptions.
Government decision
The cabinet and prime minister decided to give oil and gas regulatory authority (ogra) responsibility for daily fuel price decisions based on international market trends.
Impact on public
Petrol price changes affect middle and lower-middle classes while diesel price changes impact heavy transport, power plants and large generators.
Fuel sales data
Petrol and high-speed diesel are major revenue earners with monthly sales of 700,000 to 800,000 tonnes compared to 10,000 tonnes of kerosene.
The essence
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.
