Key Takeaways
- Petrol price increased by Rs0.77 per litre.
- High-speed diesel (HSD) price decreased by Rs1.03 per litre.
- New prices effective from Tuesday.
The government has adjusted the prices of petrol and high-speed diesel (HSD) in Pakistan, effective from Tuesday. According to a notification issued by the Ministry of Energy (Petroleum Division) and the Oil and Gas Regulatory Authority (OGRA), petrol prices have been increased by Rs0.77 per litre, bringing the ex-depot price to Rs342.79 per litre. In contrast, the price of HSD has been reduced by Rs1.03 per litre, lowering it to Rs370.41 per litre.
These changes follow a series of adjustments made by the government in response to fluctuations in international oil markets and other cost factors. In the previous review on Friday, the federal government had decreased the price of petrol by Rs0.58 per litre and diesel by Rs0.17 per litre, bringing the prices down to Rs342.02 and Rs371.44 per litre, respectively.
The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel. The new prices will remain in effect until Tuesday, in line with the government’s ongoing practice of adjusting fuel prices based on market conditions. The previous peak prices for HSD were recorded on April 3, at Rs520.35, and for petrol, at Rs458.41, both following the US-Iran conflict that began on February 28.
Petroleum Minister Ali Pervaiz Malik had announced that fuel prices would now be fixed on a daily basis due to the fluctuations in international market prices following renewed hostilities between Iran and the US. The government had been announcing weekly revisions to fuel prices since early March, alongside measures for the conservation of fuel amid possible oil supply disruptions due to the ongoing conflict in the Middle East.
In April, the federal government also announced targeted relief measures to provide subsidised fuel. The petroleum minister stated that the cabinet and the prime minister had decided to give the Oil and Gas Regulatory Authority (Ogra) the responsibility of deciding fuel prices on a daily basis based on international market conditions.
