Key Takeaways
- Petrol price reduced by 12 paisas to Rs336.03 per litre.
- High-speed diesel (HSD) price decreased by 66 paisas to Rs392.38 per litre.
- New prices effective from August 1 to August 3.
The government has adjusted the retail prices of petrol and high-speed diesel (HSD), reducing the former by 12 paisas to Rs336.03 per litre, while decreasing the latter by 66 paisas to Rs392.38 per litre.
These changes are effective from August 1 to August 3, as announced by the Petroleum Division’s notification.
Despite these reductions, taxes and duties remain unchanged at Rs110 per litre for petrol and Rs96 per litre for diesel.
The decision comes amidst ongoing fluctuations in international market prices following renewed hostilities between Iran and the US, which have led to frequent weekly revisions of fuel prices since early March.
In a separate development, the Oil and Gas Regulatory Authority (Ogra) has notified a significant 32% increase in regasified liquefied natural gas (RLNG) prices for August, raising them to $25.83 per mmBtu for SNGPL and $25.09 per mmBtu for SSGCL.
This marks the single biggest jump in RLNG rates in its decade-long history, translating into a retail price of Rs7,204 per mmBtu.
The increase is attributed to the inability to secure shipments from Qatar due to the US-Iran war and follows an earlier 15% hike in July.
The surge in RLNG prices has led to increased fuel costs for power generation, with the fuel cost for RLNG-based power generation rising to Rs31 per unit in May compared to Rs13.72 per unit in April.
Petrol and HSD prices had previously peaked at Rs458.41 and Rs520.35 respectively on April 3, after starting their upward trajectories from Rs266 and Rs281 in the first week of March.
