In Pakistan, petrol fell by 3 rupees, diesel fuel by 7 — Dawn

In Pakistan, the government reduced the price of petrol by 3 rupees per litre and high-speed diesel (HSD) by 7 rupees. Following the price revision from November 12, petrol will cost 335 rupees per litre and HSD 364 rupees, Dawn reports, citing a statement by Pakistan’s Oil and Gas Regulatory Authority (Ogra).

Taxes and refineries

Despite the reduction in retail prices, the government maintains taxes and duties at 114 rupees per litre of petrol and 100 rupees per litre of diesel fuel.

Under an arrangement announced on November 2, oil refineries will absorb a combined financial impact of 15 billion rupees related to the petroleum levy over 30 days. According to the government, this makes it possible to reduce the petrol price for consumers by 14.71 rupees per litre.

On September 17, the country launched a fuel assistance programme for owners of motorcycles, rickshaws and cars with engines of up to 800 cubic centimetres. It was introduced because of rising fuel prices amid the situation in the Middle East.

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Price revisions

The price of HSD reached a peak of 520.35 rupees per litre on April 3. On the same day, the price of petrol rose to 458.41 rupees per litre.

Since July 17, the government has reviewed fuel prices almost daily due to fluctuations in international quotations. The petroleum minister said that the government and the prime minister had instructed Ogra to set prices on a daily basis in line with international market trends. Before that, since the beginning of March, the government had announced new prices weekly.

The government also held another round of talks with the Jamaat-i-Islami party on further steps to ease price pressure on consumers.