ISLAMABAD – Pakistani government on Mondaty axed petroleum prices, cutting petrol by Rs2.27 per litre and high-speed diesel (HSD) by Rs3.56 per litre, with the new rates coming into effect from September 29.
Under the revised pricing, petrol will now be sold at Rs389.03 per litre, down from Rs391.30, while the price of HSD has been reduced to Rs404.97 per litre from Rs408.53. The latest adjustment comes as international oil markets remain under pressure amid continuing tensions in the Middle East.
Despite the reduction at the pump, petroleum products continue to carry substantial government charges. The government is currently collecting Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
The fuel-price relief comes alongside a nationwide push to conserve energy and reduce fuel consumption. The government has revived austerity measures requiring shops, markets and other business centres to close by 9pm, while fuel allocations for official vehicles have been cut by 50% for three months.
The measures reflect growing concerns over the impact of elevated international oil prices and disruptions linked to the ongoing Middle East conflict. Authorities are seeking to limit fuel consumption while protecting supplies and containing pressure on the economy.
The government has also moved to cushion the impact on segments that rely heavily on petrol for daily mobility. On September 13, Prime Minister Shehbaz Sharif announced a relief scheme for motorcycle and rickshaw users as well as owners of vehicles with engine capacities of up to 800cc. The government has said the programme is intended to ease the burden created by higher global oil prices.
The latest cut also comes against the backdrop of a dramatic rise and subsequent decline in domestic fuel prices this year. According to Dawn, HSD had climbed to a peak of Rs520.35 per litre on April 3, after starting from Rs281 following the outbreak of the US-Iran conflict on February 28. Petrol similarly reached Rs458.41 per litre on April 3, after beginning its upward movement from Rs266 in early March.
The government has also introduced changes to the way petroleum prices are determined. Since July, fuel prices have been subject to daily revisions, with the Petroleum Division citing fluctuations in international market conditions.
