High-speed diesel price crosses Rs400
Pakistan raises high-speed diesel price by Re0.85 to Rs400.67 per litre, keeping petrol unchanged at Rs377.91.
In brief
Pakistan raises high-speed diesel price by Re0.85 to Rs400.67 per litre, keeping petrol unchanged at Rs377.91. Pakistan increased high-speed diesel price to Rs400.67 per litre with Re0.85 increase, while petrol rate remains at Rs377.91. Originally reported by Dawn.
High-speed diesel price increase
The government increased high-speed diesel price by Re0.85 per litre, leaving petrol unchanged at Rs377.91.
New diesel price effective
Following the revision, high-speed diesel will retail at Rs400.67 per litre starting October 30.
Tax structure on fuels
The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
JI-Peace talks
Jamaat-i-Islami chief Hafiz Naeemur Rehman met with Prime Minister Shehbaz Sharif to discuss public relief through petroleum levy abolition.
Joint committee agreement
The two sides agreed to form a joint committee to consider expanding the fuel relief scheme for motorcycles, rickshaws and vehicles up to 800cc.
JI protest threat
Rehman declared his party would march to Islamabad in protest of petroleum levy in mid-November if no major relief was announced.
Fuel dealers warning
The Pakistan Petroleum Dealers Association urged consumers not to resort to panic buying as excessive purchases could create market distortions.
Senator concerns
Senators raised concerns over fuel supply even after Finance Minister Bilal Azhar Kayani stated there were no supply issues.
Diesel price history
The price of high-speed diesel has come down from a peak of Rs520.35 recorded on April 3 to Rs400.67.
Petrol price history
The petrol price had peaked at Rs458.41 on April 3 after beginning its upward trajectory from Rs266 in early March.
Austerity measures
The government reintroduced austerity measures including market closures by 9pm and 50% reduction in fuel allocations for official vehicles.
Relief scheme announcement
On September 13, Prime Minister Shehbaz announced a relief scheme for motorcycle, auto and up to 800cc vehicle users to alleviate rising oil prices.
Daily pricing decision
The petroleum minister stated the cabinet and prime minister decided to give Oil and Gas Regulatory Authority responsibility for daily fuel pricing based on international markets.
Impact on public
Petrol and high-speed diesel affect middle and lower-middle classes, with monthly sales of 700,000 to 800,000 tonnes compared to 10,000 tonnes for kerosene.
The bottom line
Pakistan increased high-speed diesel price to Rs400.67 per litre with Re0.85 increase, while petrol rate remains at Rs377.91.
