The federal government on Tuesday reduced the prices of petrol and high-speed diesel (HSD) by Rs. 3.39 and Rs. 4.07 per litre, respectively. The revised rates will take effect from August 5.
Following the reduction, petrol will retail at Rs. 328.56 per litre. Meanwhile, high-speed diesel will cost Rs. 385.86 per litre.
The government will continue collecting Rs. 110 per litre in taxes and duties on petrol. Similarly, it will levy Rs. 96 per litre on diesel.
New Fuel Prices Effective Today
The Petroleum Division confirmed the revised prices through an official notification. The latest adjustment follows recent fluctuations in international oil markets.
Diesel prices have dropped significantly from their peak of Rs. 520.35 per litre recorded on April 3. Likewise, petrol prices have declined from a high of Rs. 458.41 per litre reached on the same date.
Fuel prices had risen sharply after the US-Iran conflict escalated earlier this year. However, recent market trends have allowed authorities to reduce prices.
Daily Pricing Policy Remains
Earlier, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be reviewed daily. The government introduced the policy because of continuing volatility in global oil markets.
The Oil and Gas Regulatory Authority (Ogra) will determine daily fuel prices based on international market conditions. However, the All Pakistan Dealers Association has opposed the decision and is considering protest options.
Petrol remains the primary fuel for private vehicles, motorcycles, and rickshaws. Meanwhile, diesel is widely used in heavy transport, power generation, and industrial operations.
