Pakistan revises petrol and high-speed diesel prices as fuel taxes and government austerity measures continue to affect consumers.
ISLAMABAD: The federal government has increased petrol prices by Rs0.88 per litre and high-speed diesel (HSD) by Rs0.53 per litre for the latest pricing period, according to a notification issued by the Petroleum Division.
Under the revised rates, petrol will cost Rs382.02 per litre, while high-speed diesel will be available at Rs389.80 per litre from Wednesday, Oct. 21.
The government continues to impose taxes and duties of Rs114 per litre on petrol and Rs100 per litre on diesel, adding to the financial burden on consumers already facing elevated fuel costs.
Despite the latest increases, both fuels remain below their record prices earlier this year. Diesel peaked at Rs520.35 per litre on April 3, while petrol reached a record Rs458.41 per litre on the same date.
Fuel prices began rising following the outbreak of the US-Iran war on Feb. 28, according to the background information provided. Petrol, which stood at around Rs266 per litre in early March, increased sharply in the following weeks. Diesel prices also climbed from approximately Rs281 per litre before reaching their April peak.
Government Restores Austerity Measures
Meanwhile, the government has reinstated austerity measures to manage the economic impact of rising fuel costs amid continuing tensions in the Middle East.
Under the measures, markets are required to close by 9 p.m., while fuel allocations for official vehicles have been reduced by 50% for three months.
The measures are intended to limit fuel consumption and manage the financial pressure associated with higher energy costs. However, the latest price increases mean consumers will continue to face higher expenses for transportation and other fuel-dependent activities.
Relief Scheme for Lower-Income Consumers
Prime Minister Shehbaz Sharif announced a fuel relief scheme on Sept. 13 for motorcyclists, auto-rickshaw users and owners of vehicles with engine capacities of up to 800cc.
The initiative was designed to ease the financial pressure on lower-income consumers affected by rising international oil prices.
In a separate policy change, Petroleum Minister Ali Pervaiz Malik announced on July 17 that fuel prices would be determined daily in response to fluctuations in international oil markets following renewed hostilities between Iran and the United States.
The latest revision reflects the government’s continuing adjustments to domestic fuel prices amid international market uncertainty. Fuel costs remain a key concern for households, transport operators and businesses because changes in petrol and diesel prices can affect transportation expenses and the cost of goods.
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