Petrol in Pakistan becomes cheaper by 5.45 rupees per litre — Dawn

In Pakistan, the government has reduced the price of petrol by 5.45 Pakistani rupees per litre and that of high-speed diesel (HSD) by 3.68 rupees. From November 4, petrol will cost 369.06 rupees per litre and HSD 391.52 rupees, Dawn reports, citing a notification from Pakistan’s Oil and Gas Regulatory Authority.

Taxes and refiners’ contribution

According to the publication, the government continues to collect 114 rupees in taxes and charges on every litre of petrol and 100 rupees per litre of diesel fuel.

The authorities also announced a 30-day arrangement under which oil refineries will bear a combined burden of 15 billion rupees as part of the petroleum products levy. According to the government’s estimate, this mechanism should make it possible to reduce the petrol price for consumers by 14.71 rupees per litre.

Petroleum Minister Ali Pervaiz Malik said the authorities were working on introducing a similar system for liquefied petroleum gas.

More current news is available on the UA.News Telegram channel Telegram.

Prices below April peaks

The price of HSD has fallen compared with the peak of 520.35 rupees per litre recorded on April 3. On the same day, the petrol price reached a peak of 458.41 rupees per litre.

Oil quotations on global markets also declined on Tuesday. Brent futures lost 2% and stood at $103.14 per barrel, while U.S. WTI fell by 1% to $95.79.

In Pakistan, petrol is mainly used in private transport, small cars, rickshaws and two-wheeled vehicles. Diesel fuel is used in heavy transport, at power plants and in large generators.