The federal government has reduced petrol prices by Rs 9.41 per litre and high-speed diesel (HSD) by Rs 5.56. The latest reduction provides further relief to consumers amid fluctuating international oil prices.
Following the revision, petrol will now cost Rs 352.59 per litre, while high-speed diesel will sell for Rs 382.25. The revised prices will take effect from Friday, November 6, according to the Oil and Gas Regulatory Authority (OGRA).
This marks the fourth consecutive reduction in petroleum prices. Consequently, motorists and businesses could benefit from lower transportation and fuel expenses.
Government Announces Fresh Reduction in Fuel Prices
The government announced the latest adjustment through an official notification on Thursday. It continues to collect Rs 114 per litre in taxes and duties on petrol and Rs 100 on diesel.
Moreover, the government introduced a temporary arrangement requiring oil refineries to contribute towards the petroleum levy. Under this 30-day arrangement, refineries will bear a cumulative financial impact of Rs 15 billion.
The arrangement allows the government to provide a Rs 14.71 reduction in petrol prices for consumers. Meanwhile, Petroleum Minister Ali Pervaiz Malik said authorities were exploring similar relief measures for liquefied petroleum gas.
Lower Fuel Prices Offer Relief to Consumers
The latest reduction follows several consecutive adjustments in petroleum prices. Previously, the government reduced petrol by Rs 7.06 and diesel by Rs 3.71 per litre.
International oil market fluctuations have influenced Pakistan’s fuel pricing decisions. Additionally, ongoing tensions in the Middle East continue to affect global energy markets and supply routes.
Petrol price changes directly affect motorists, motorcycle owners and public transport users. Similarly, diesel reductions can lower operating costs for trucks, buses, agricultural machinery and power generators.
The government has also introduced austerity measures to conserve fuel amid regional uncertainties. These include reduced fuel allocations for official vehicles and restrictions on market operating hours.
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