Pakistan cuts petrol and diesel prices — Dawn
In Pakistan, the government reduced the retail price of petrol by 1.65 Pakistani rupees per litre and that of high-speed diesel (HSD) by 0.88 rupees. The updated prices will be in effect from September 19 to 21: petrol will cost 389.14 rupees per litre, while diesel fuel will cost 424.04 rupees.
Taxes and price revision
According to Dawn, the government will continue to collect 114 rupees in taxes and levies on every litre of petrol and 100 rupees on every litre of diesel fuel. The Petroleum Division issued the notification on the new prices.
The Oil and Gas Regulatory Authority of Pakistan (OGRA) said that prices were revised taking into account international market quotations, premiums and other factors. On July 17, Petroleum Minister Ali Pervaiz Malik said fuel prices would be set daily because of fluctuations in the international market amid renewed hostilities between Iran and the United States.
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Peak prices and benefits
The price of diesel fuel has declined from the peak of 520.35 rupees per litre recorded on April 3. On the same day, the price of petrol reached a high of 458.41 rupees per litre. The government also resumed austerity measures: markets must close by 21:00, while fuel quotas for official vehicles were cut by 50% for three months.
On September 13, Prime Minister Shehbaz Sharif announced a support programme for owners of motorcycles, auto-rickshaws and cars with engines of up to 800 cubic centimetres. Owners of two- and three-wheeled vehicles will receive a benefit of 100 rupees per litre for a monthly volume of up to 20 litres, while owners of small-engine cars will receive it for up to 30 litres.
