Pakistan Cuts Petrol and Diesel Prices
The government reduced petrol by Rs2.27 per litre and high‑speed diesel by Rs3.56 per litre. The new prices are Rs389.03 for petrol and Rs404.97 for HSD, effective from September 29.
Taxes remain Rs114 per litre on petrol and Rs100 per litre on diesel. The prices had peaked at Rs458.41 for petrol and Rs520.35 for HSD on April 3, after rising from Rs266 and Rs281 respectively in early March following the US‑Iran war on February 28.
Alongside the price cut, the government reintroduced austerity measures. Markets must close by 9pm and fuel allocations for official vehicles are cut by 50 percent for three months. On September 13, a relief scheme for motorcycles, autos and vehicles up to 800cc was announced to ease the burden of rising global oil prices.
On July 17, the petroleum minister announced that fuel prices would now be fixed daily to reflect international market fluctuations. The cabinet and the prime minister have given the Oil and Gas Regulatory Authority the responsibility to set daily prices.
Petrol and high‑speed diesel are the major revenue earners for the government, with monthly sales of about 700,000 to 800,000 tonnes, while kerosene demand is only about 10,000 tonnes per month.
