ISLAMABAD – The federal government announced only Rs1.97 per litre reduction in petrol and diesel prices for the coming week. Under the latest revision, petrol will now cost Rs297.53 per litre instead of Rs299.50, while High-Speed Diesel (HSD) has been reduced from Rs311.47 to Rs309.50 per litre. The new rates will take effect from July 4.
While the government has presented the move as a price reduction, many consumers are likely to find that the savings disappear long before they reach the cashier. For the average vehicle owner, the cut translates into only a few rupees, not enough to offset months of rising fuel costs.
The announcement follows last week’s review, when fuel prices remained unchanged despite expectations of relief. This week, the government did deliver a reduction but one that critics may describe as more symbolic than substantial.
The announcement, issued by the Petroleum Division on Friday, offers what many consumers may describe as relief rather than meaningful savings, especially after weeks of declining international crude oil prices.
Despite sustained drop in global oil rates, the expected benefit has once again struggled to reach ordinary Pakistanis, who continue to grapple with soaring inflation and rising living costs. For millions of motorists, the latest reduction is unlikely to make any noticeable difference to their monthly fuel expenses.
Masses argue that if international prices can fall sharply, domestic fuel prices should reflect those changes more substantially. Instead, consumers have been handed a cut so small that many jokingly say it is barely enough to cover the cost of a shopping bag.
Reports suggest that oil marketing companies influenced the government’s pricing decisions, with analysts questioning why the full advantage of lower global crude prices has not been passed on to the public.
The latest decision has once again reignited calls for greater transparency in Pakistan’s petroleum pricing mechanism. Until then, many inflation-weary Pakistanis are left wondering whether global oil prices only travel downward on international charts, not at Pakistani fuel pumps.
Petrol Price in Pakistan likely to drop by Rs2 per Litre from July 4
