Pakistan cuts petrol price by 5.16 rupees per litre — Dawn

The Pakistani government has reduced the price of petrol by 5.16 rupees per litre and that of diesel fuel by 7.69 rupees. The new retail prices will take effect on October 20: a litre of petrol will cost 381.14 rupees, while diesel fuel will cost 389.27 rupees.

According to Dawn, citing a notification from the government's petroleum division, the authorities will continue to collect 114 rupees per litre in taxes and levies on petrol and 100 rupees on diesel fuel.

Prices after the spring peak

The price of diesel fuel has fallen from the peak level of 520.35 rupees per litre recorded on April 3. Before prices rose after February 28, diesel cost about 281 rupees per litre.

Petrol also reached a high of 458.41 rupees per litre on April 3. At the beginning of March, its price was about 266 rupees per litre.

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Daily price review

On July 17, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would be reviewed daily due to fluctuations on international markets. The government and the prime minister instructed the Oil and Gas Regulatory Authority, Ogra, to set daily prices in line with international trends.

The authorities also reinstated austerity measures because of rising fuel costs: markets must close at 21:00, and fuel limits for official vehicles were cut by 50% for three months. In September, Prime Minister Shehbaz Sharif announced an assistance programme for users of motorcycles, auto-rickshaws and cars with engine capacities of up to 800 cubic centimetres.

Petrol in Pakistan is mainly used in private transport, small cars, rickshaws and two-wheeled vehicles. Diesel fuel is important for freight transport, power plants and large generators.