The federal government reduced the price of petrol by Rs7.06 per litre and high-speed diesel (HSD) by Rs3.71 per litre for November 5. According to a notification from the Petroleum Division, petrol was fixed at Rs362 per litre and HSD at Rs387.81 per litre for Thursday.
This price revision follows a reduction on November 4, where the government cut petrol by Rs5.45 per litre and HSD by Rs3.68. The government has moved to a daily notification system, replacing the weekly pricing mechanism, due to continued tensions between the United States and Iran driving global oil market volatility and fuel supply concerns.
On Monday, the government announced that oil refineries would bear a burden of Rs15 billion per month. This arrangement would allow petrol to be sold Rs15 cheaper than global market prices amidst the US-Israeli war on Iran.
Earlier, on September 13, Prime Minister Shehbaz Sharif announced a special relief scheme to shield lower-income consumers from rising prices. The proposal offers Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws, and cars with engines up to 800cc. The scheme aims to cover an estimated 11.8 million beneficiaries. Under the plan, 10 million two-wheeler users and 800,000 three-wheeler users would receive relief on 20 litres of fuel per month, totaling a maximum benefit of Rs2,000 each. Additionally, one million users of cars up to 800cc would receive relief on 30 litres per month, providing a maximum benefit of Rs3,000 each.
On September 17, the government reintroduced austerity and fuel conservation measures. A notification from the Cabinet Division mandated that shops, markets, shopping malls, bazaars, departmental stores, grocery stores, general stores, and kiryana shops must close by 9pm throughout the week. Marriage halls, marquees, and other commercial venues for festive events must close by 10pm. Restaurants, cafes, eateries, food outlets, and standalone fruit and vegetable shops are permitted to operate until 11pm, while takeaway and home delivery services remain exempt from these timing restrictions.
