Govt lowers petrol price by Rs0.43 per litre, raises HSD by Rs3.47 per litre

The government has reduced the price of petrol by Rs0.43 per litre and increased that of high-speed diesel (HSD) by Rs3.47 per litre. The petrol price will now retail at Rs390.79 per litre, while HSD will cost Rs424.92 per litre. These changes will take effect on September 18 (Friday). The government maintains a tax and duty rate of Rs114 per litre on petrol and Rs100 per litre on diesel.

The Petroleum Division's notification indicates that the new prices are based on international market rates, premiums, and other relevant factors. The rise in diesel prices is primarily due to an increase in global petroleum prices, while the petrol price cut comes after a peak of Rs458.41 on April 3. Prior to the international market fluctuation, the government had been revising fuel prices weekly since early March and daily since July 17 due to heightened hostilities between Iran and the US.

The relief scheme announced by Prime Minister Shehbaz Sharif provides Rs100 per litre relief to motorcycle, auto, and 800cc vehicle owners on a monthly quota of 20 litres, and Rs100 per litre relief to 800cc vehicle owners on a monthly quota of 30 litres.