Government cuts petrol price by Rs3.93 per litre — Dawn

The government has reduced the retail price of petrol by Rs3.93 per litre, to Rs386.30 per litre. The price of high-speed diesel (HSD) remained unchanged at Rs396.96 per litre. The updated prices will be effective from October 17 to 19.

New fuel prices

According to a statement from the government’s petroleum division, prices were revised for the period from Saturday to Monday. According to Dawn, the authorities continue to collect Rs114 per litre in taxes and levies on petrol and Rs100 on diesel fuel.

Petrol is mainly used in private transport, small cars, rickshaws and two-wheeled vehicles. Diesel is used in the heavy freight transport sector, at power plants and in large generators.

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

Price trends and austerity measures

The price of high-speed diesel fell from its peak level of Rs520.35 per litre recorded on April 3. Its price began rising from Rs281 per litre after the start of the war between the United States and Iran on February 28. Petrol reached a maximum of Rs458.41 per litre on April 3, rising from Rs266 in the first week of March.

Against the backdrop of rising fuel prices and the conflict in the Middle East, the government has reinstated austerity measures. In particular, markets must close by 9:00 p.m., while fuel allocations for official vehicles have been reduced by 50% for three months.

In July, Petroleum Minister Ali Pervaiz Malik said that fuel prices would be set daily due to fluctuations in international markets. He also said that the cabinet and the prime minister had decided to assign the Oil and Gas Regulatory Authority responsibility for setting prices daily, taking into account international market dynamics.