Pakistan has reduced petrol and high-speed diesel prices, with the new rates taking effect from September 29.
According to the Oil and Gas Regulatory Authority (OGRA), the price of petrol has been reduced by Rs2.27 per litre, bringing it down from Rs391.30 to Rs389.03 per litre.
The price of high-speed diesel has also been reduced, with a cut of Rs3.56 per litre bringing the new rate to Rs404.97 per litre.
New petrol and diesel prices
The latest revision provides some relief to consumers after fuel prices had recently moved higher.
| Fuel | Previous Price | Reduction | New Price |
|---|---|---|---|
| Petrol | Rs391.30 | Rs2.27 | Rs389.03 |
| High-Speed Diesel | Rs408.53 | Rs3.56 | Rs404.97 |
The revised prices will apply from September 29 under the latest notification.
Petrol price falls after recent increase
Petrol had recently climbed back to Rs391.30 per litre after briefly falling to Rs389.28 earlier in the week.
The latest reduction brings the petrol price below the previous Rs391.30 level, although the new rate remains slightly above the earlier Rs389.28 price.
The changes come as authorities review international petroleum prices and domestic pricing factors.
How fuel prices are determined
Fuel prices in Pakistan are linked partly to movements in international oil markets.
According to the report, prices are calculated using a seven-working-day rolling average of the Platts Arab Gulf price.
The pricing mechanism is designed to reflect changes in international petroleum prices while accounting for domestic factors such as government levies and dealer or industry margins.
The Petroleum Division said levies and margins remained largely steady during the latest review.
Impact on consumers
The reduction in petrol and diesel prices is expected to provide some relief to motorists and businesses using fuel for transportation.
Petrol is widely used by private vehicle owners, motorcycles and other small vehicles, while diesel is particularly important for commercial transport, buses, trucks, agricultural machinery and other heavy-duty vehicles.
Even relatively small changes in fuel prices can affect transportation costs because petroleum products are used across several sectors of the economy.
The latest reduction could therefore have an impact beyond individual motorists, although the overall effect will depend on future international oil prices and subsequent domestic price revisions.
New rates take effect September 29
The revised prices will come into force on September 29.
Petrol will now be available at the notified rate of Rs389.03 per litre, while high-speed diesel will cost Rs404.97 per litre.
Future fuel prices will continue to depend on international petroleum market movements, the applicable pricing formula and domestic taxes, levies and margins.
For now, the latest notification means both major petroleum products have received a price reduction, with petrol falling by Rs2.27 per litre and high-speed diesel by Rs3.56.
Also read: Rs100 Petrol Relief Registration Process Explained
