ISLAMABAD – The government on Friday announced slight reduction in petrol and diesel prices, passing on small relief at a time when international fuel markets are showing increasingly worrying trends.
For next 3 days, price of petrol has been lowered by Rs. 1.65 per litre, bringing it down to Rs. 389.14 per litre. Diesel prices have also been reduced by 88 paisas per litre, with the new price standing at Rs. 424.04 per litre.
The revised rates will remain in effect on September 19, 20 and 21. The Petroleum Division said the adjustment was made in response to changes in international petroleum prices.
In US, diesel prices have recently climbed to record levels, with the national average reaching approximately $6.40 to $6.45 per gallon this week, based on AAA figures.
The rise in diesel costs is particularly important because diesel is heavily relied upon by the trucking, farming, construction and freight sectors. As fuel becomes more expensive, the impact can extend beyond transport operators, eventually increasing the costs of moving goods and potentially pushing up prices for food and other everyday necessities.
Compared with the same period last year, US diesel prices have surged by around 70% or more, although the exact increase varies depending on the date and source of the data.
Petrol relief scheme expanded to 20-year-old motorcycles, rickshaws and Qingqis
