ISLAMABAD – After back to back hikes in fuel prices over past several days, the government announced slight cut in rates of petrol and high-speed diesel (HSD), offering motorists a brief respite from the relentless increase at fuel stations.
Petrol has been cut by Rs1.65 per litre, bringing its price down to Rs389.14 per litre. The price of HSD has also been reduced, falling by Rs0.88 per litre to Rs424.04. The new rates will take effect from September 19 (Saturday) and remain applicable until September 21 (Monday).
Despite the latest reduction, fuel taxes remain substantial. The government is currently collecting Rs114 per litre in taxes and duties on petrol, while diesel carries Rs100 per litre in taxes and duties.
Petrol Crossed Rs390 in Just Days
The latest cut comes after petrol prices surged rapidly during September. On September 9, petrol was priced at Rs364.35 per litre. Within days, the price continued to climb, reaching Rs391.22 per litre on September 17.
- September 9: Rs364.35 — up Rs5.58
- September 10: Rs367.75 — up Rs3.40
- September 11: Rs370.80 — up Rs3.05
- September 12: Rs375.82 — up Rs5.02
- September 15: Rs380.24 — up Rs4.42
- September 16: Rs384.34 — up Rs4.10
- September 17: Rs391.22 — up Rs6.88
International Oil Prices
The latest adjustment has been linked primarily to movements in international petroleum prices. According to the data provided, the Oil and Gas Regulatory Authority (OGRA) based the revision on international market rates, petroleum premiums and other relevant factors.
The reduction comes after fuel prices witnessed a dramatic rise earlier in the year.
Diesel surged to a record Rs520.35 per litre on April 3, after climbing from Rs281 per litre following the outbreak of the US-Iran war on February 28.
Petrol followed an equally sharp upward trajectory, reaching a peak of Rs458.41 per litre on April 3. Its climb had begun from around Rs266 per litre during the first week of March. The biggest increase in the listed period came on September 17, when petrol jumped by Rs6.88 per litre.
The latest reduction may ease pressure on consumers, but the overall price picture remains marked by sharp fluctuations.
Petrol Price in Pakistan cut by Rs0.43 to Rs390.79; Diesel jumps Rs3.47
