Pakistan cuts petrol price by 8 rupees per litre — Dawn

Pakistan’s government cut the retail price of petrol by 8 Pakistani rupees per litre and high-speed diesel (HSD) by 7 rupees starting from November 11. Following the price revision, petrol costs 338 rupees per litre and diesel costs 371 rupees, Dawn reports, citing a notification by Pakistan’s Oil and Gas Regulatory Authority (OGRA).

Taxes and petroleum levy

Despite the price reduction, the government continues to collect 114 rupees in taxes and charges from every litre of petrol and 100 rupees from every litre of diesel.

Under an arrangement announced on November 2, refineries will bear part of the burden of the petroleum levy for 30 days. According to the government, the total impact of this mechanism will amount to 15 billion rupees and will make it possible to reduce the petrol price for consumers by 14.71 rupees per litre.

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Price changes

The price of HSD has fallen from its peak of 520.35 rupees per litre recorded on April 3. On the same day, petrol reached a peak of 458.41 rupees per litre. The price of diesel began rising from 281 rupees per litre after the start of the US-Iran war on February 28, while the price of petrol rose from 266 rupees in the first week of March.

Since July 17, authorities have reviewed fuel prices almost daily due to fluctuations on the international market amid renewed hostilities between Iran and the United States. Before that, prices had been reviewed weekly since the beginning of March.

On September 17, Pakistan also launched a fuel subsidy programme for owners of motorcycles, rickshaws and vehicles with engines of up to 800 cubic centimetres. Petrol is mainly used in private transport, rickshaws and two-wheeled vehicles, while diesel is important for freight transport, power plants and large generators.