ISLAMABAD – The price of petrol has been cut by Rs1.93 per litre and high-speed diesel (HSD) by Rs4.21 per litre, with the new rates taking effect from September 24. Petrol will now cost Rs390.12 per litre, while diesel has been reduced to Rs414.75 per litre.
The latest adjustment follows another round of reductions in the previous review, when petrol was cut by Rs1.70 per litre and diesel by Rs3.12. The Petroleum Division said the latest changes were linked to movements in international oil-market indicators, including Platts rates, premiums and other incidentals.
| Date | Petrol price | Change |
|---|---|---|
| Sep 14 | Rs375.82 | No change |
| Sep 15 | Rs380.24 | +Rs4.42 |
| Sep 16 | Rs384.34 | +Rs4.10 |
| Sep 17 | Rs391.22 | +Rs6.88 |
| Sep 18 | Rs390.79 | −Rs0.43 |
| Sep 19 | Rs389.14 | −Rs1.65 |
| Sep 20 | Rs389.14 | – |
| Sep 21 | Rs389.14 | – |
| Sep 22 | Rs393.75 | +Rs4.61 |
| Sep 23 | Rs392.05 | −Rs1.70 |
While consumers are being offered cheaper fuel, the government’s revenue collection from petroleum products remains substantial. The government continues to levy around Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel. So, while the pump price is moving downward, the taxman has not exactly decided to take a holiday.
The latest prices are considerably lower than the peaks recorded earlier this year amid severe international market volatility. Diesel had climbed to Rs520.35 per litre on April 3, after rising from about Rs281 per litre following the outbreak of the US-Iran conflict on February 28.
The government attempted to cushion smaller vehicle owners from the impact of expensive fuel. Prime Minister Shehbaz Sharif announced a relief scheme on September 13 for users of motorcycles, rickshaws and vehicles with engines of up to 800cc.
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