Pakistani government announced meagre reduction in prices of petroleum products for the upcoming week, offering almost no relief to consumers.
According to the Ministry of Energy (Petroleum Division), the price of Petrol has been reduced by Rs1.97 per litre, bringing the new price down from Rs299.50 to Rs297.53 per litre. Similarly, the price of High-Speed Diesel (HSD) has also been cut by Rs1.97 per litre, decreasing from Rs311.47 to Rs309.50 per litre.
The revised prices will remain in effect for the next week until the government announces its next petroleum price review.
After the latest changes, the price of petrol stands at Rs297 per litre and high-speed diesel (HSD) at Rs311. Petroleum Division’s notification announcing the decrease said the new prices would be effective from July 4 (Saturday).
The minor relief comes after last week disappointment for masses when there was no changes made to Petrol and Diesel Prices.
Despite a significant decline in international oil prices, consumers have yet to receive any relief at the fuel pump, drawing criticism over the government’s pricing policy.
According to reports, pressure from oil marketing companies on the federal government has continued, with critics alleging that authorities have yielded to industry demands instead of passing on the benefits of lower global crude prices to the public.
The decision has sparked concerns among consumers and analysts, who argue that reduced international oil prices should translate into lower domestic fuel prices. However, despite the downward trend in global markets, no corresponding relief has been announced, leaving motorists and businesses to continue paying existing rates.
The issue has intensified debate over fuel pricing mechanisms and the influence of oil marketing companies on government policy, as calls grow for greater transparency in determining domestic petroleum prices.
