Petrol price slashed by Rs9.41 per litre
Government cuts petrol and diesel prices amid Middle East conflict.
In brief
Government cuts petrol and diesel prices amid Middle East conflict. Pakistan's government reduced petrol prices by Rs9.41 per litre and high-speed diesel by Rs5.56 per litre to ease fuel costs for consumers. Originally reported by Dawn.
Price reduction announcement
Government dropped petrol prices by Rs9.41 per litre and high-speed diesel by Rs5.56 per litre in the fourth consecutive reduction.
New retail prices
Petrol will retail at rs352.59 per litre, while high-speed diesel will cost rs382.25 per litre on november 6.
Tax structure
Government continues to levy rs114 per litre in taxes and duties on petrol and rs100 per litre on diesel.
Refinery contribution
Oil refineries will contribute rs15 billion to the petroleum levy over 30 days to reduce consumer prices by rs14.71.
LPG policy plans
Petroleum minister ali pervaiz malik said efforts are being made to introduce a similar system for liquefied petroleum gas.
Jamaat-i-Islami talks
Jamaat-i-Islami and government set to hold another round of talks on petroleum price relief.
Price history
High-speed diesel price dropped from rs520.35 on april 3 to rs382.25 on november 6.
Petrol price history
Petrol price dropped from rs458.41 on april 3 to rs352.59 per litre on november 6.
Austerity measures
Government reintroduced market closure by 9pm and cut fuel allocations for official vehicles by 50pc for three months.
Motorcycle relief scheme
Government launched a relief scheme for motorcycles, autos and vehicles up to 800cc to alleviate rising oil prices.
Daily pricing system
Petroleum minister stated cabinet and prime minister decided to give ogra responsibility for daily fuel price decisions.
Impact on consumers
Petrol price changes affect middle and lower-middle classes, while diesel impacts heavy transport and power generation.
Market demand
Monthly sales of petrol and hsd range from 700,000 to 800,000 tonnes, compared to 10,000 tonnes for kerosene.
The headline
Pakistan's government reduced petrol prices by Rs9.41 per litre and high-speed diesel by Rs5.56 per litre to ease fuel costs for consumers.
