Govt reduces petrol price by Rs1.49 per litre, high-speed diesel rate by Rs2.73 per litre
The government on Tuesday reduced the price of petrol by Rs1.49 per litre and that of high-speed diesel (HSD) by Rs2.73 per litre. Following the revision, petrol will retail at Rs387.54 per litre, while HSD will cost Rs402.24 per litre. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel. According to the Petroleum Division’s notification,…
The Pakistani government has lowered the price of petrol by Rs1.49 per litre and that of high-speed diesel (HSD) by Rs2.73 per litre. With the adjustment, petrol will be sold for Rs387.54 per litre and HSD for Rs402.24 per litre. The government still imposes taxes and duties of Rs114 per litre on petrol and Rs100 per litre on diesel.
The new rates are effective as of September 30 (Wednesday), according to a notification from the Petroleum Division. HSD's price has dropped from its April 3 peak of Rs520.35. Diesel prices started climbing from Rs281 per litre following the US-Iran conflict on February 28. Petrol's price peaked at Rs458.41 on April 3 after beginning its rise from Rs266 in early March.
The government has implemented austerity measures in response to rising fuel costs amid the Middle East turmoil. Markets are now required to close by 9pm, and fuel allowances for official vehicles have been reduced by 50% for three months. Prime Minister Shehbaz Sharif announced a "relief scheme" for motorcycle, auto, and 800cc vehicle users on September 13 to "alleviate the burden" from soaring global oil prices.
Deputy Prime Minister and Foreign Minister Ishaq Dar praised the scheme's success, stating it demonstrated a "whole of government" approach. The National Steering Committee on Fuel Subsidy reviewed the scheme's implementation, with the Deputy Premier noting that the Ministry of Information, IT, petroleum, Oil and Gas Regulatory Authority (Ogra), State Bank of Pakistan (SBP), and all provinces worked together.
As of now, approximately 7.60 million registrations have been made, and 7.71 million tokens have been redeemed through the scheme. The federal government began fixing fuel prices daily due to fluctuations in international market prices after renewed hostilities between Iran and the US, previously announcing weekly revisions since early March.
The government also introduced targeted relief measures in April to provide subsidized fuel, with the petroleum minister stating that the cabinet and prime minister decided to entrust Ogra with daily fuel price decisions based on international market trends. Petrol, used primarily in private transport, small vehicles, rickshaws, and two-wheelers, affects the middle and lower-middle classes, while diesel price changes impact everyone, as it is mainly used in the heavy transport sector, power plants, and large generators.
Petrol and HSD generate the majority of revenue, with monthly sales of 700,000 to 800,000 tonnes, compared to only 10,000 tonnes for kerosene.
Written by urgent.news from Dawn Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
