Islamabad – A sigh of relief for financial relief for millions across Pakistan as federal government announced a major cut of Rs7.54 per litre in petrol prices.
New Petrol Price August
This decision comes as a welcome surprise after four consecutive hikes, offering a breath of fresh air to the middle and lower-income households, who rely heavily on petrol for motorcycles, rickshaws, and personal vehicles.
The the price of petrol drops to Rs264.61 per litre, high-speed diesel (HSD), which fuels trucks, buses, and agricultural machinery, has seen only a marginal rise of Rs1.48, now priced at Rs285.83 per litre. Experts say this move will help control inflation and ease transport and food costs across the board.
The reduction follows a global drop in oil prices and a steep fall in the petrol import premium, which plummeted from $9.70 to just $6.75 per barrel and it is a clear sign that international pressure is easing and Pakistanis are reaping the benefits.
Despite collecting nearly Rs98 per litre in taxes, the government has kept the general sales tax (GST) at zero, softening the impact on consumers. Officials say this pricing revision was made after consultation with OGRA and a close review of global market trends.
