Petrol price down by Rs2.93 per litre
Government cuts petrol price by Rs2.93 per litre but raises high-speed diesel by Re0.61.
In brief
Government cuts petrol price by Rs2.93 per litre but raises high-speed diesel by Re0.61. Pakistan's government reduced petrol prices by Rs2.93 per litre to Rs395.37 while increasing high-speed diesel by Re0.61 per litre to Rs396.85. Originally reported by Dawn.
Government reduces petrol price
The government reduced the price of petrol by Rs2.93 per litre on Monday.
Petrol price set at Rs395.37
Petrol will retail at Rs395.37 per litre following the revision.
High-speed diesel price up by Re0.61
The government increased the price of high-speed diesel by Re0.61 per litre.
HSD price set at Rs396.85
High-speed diesel will cost Rs396.85 per litre after the change.
Taxes remain unchanged
The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
HSD price peaked at Rs520.35
The price of HSD has come down from a peak of Rs520.35 recorded on April 3.
HSD price rose after US-Iran war
Its price had started rising from Rs281 per litre after the US-Iran war broke out on February 28.
Petrol price peaked at Rs458.41
The petrol price had peaked at Rs458.41 on April 3 after beginning its upward trajectory from Rs266 in the first week of March.
Government introduces austerity measures
The government has reintroduced a raft of austerity measures in response to rising fuel prices amid the ongoing Middle East conflict.
Markets close by 9pm
Under these measures, markets are required to close by 9pm and fuel allocations for official vehicles has been cut by 50 per cent for three months.
Relief scheme for vehicles
On September 13, Prime Minister Shehbaz Sharif announced a "relief scheme" for users of motorcycles, autos and vehicles of up to 800cc to "alleviate the burden" of rising global oil prices.
Daily fuel price adjustments
Previously, on July 17, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be fixed on a daily basis due to fluctuations in international market prices following renewed hostilities between Iran and the…
The headline
Pakistan's government reduced petrol prices by Rs2.93 per litre to Rs395.37 while increasing high-speed diesel by Re0.61 per litre to Rs396.85.
