Pakistan has reduced petrol prices to Rs379.31 per litre while increasing high-speed diesel to Rs390.11, as fuel taxes and global oil market volatility continue to affect consumers.
The federal government has reduced the price of petrol by Rs2.71 per litre while increasing high-speed diesel (HSD) by 31 paisa, according to an official notification issued Wednesday.
Under the revised rates, petrol will cost Rs379.31 per litre, while high-speed diesel will be available at Rs390.11 per litre. The new prices are scheduled to take effect Thursday, Oct. 22.
The government continues to collect taxes and duties of Rs114 per litre on petrol and Rs100 per litre on diesel, adding to the overall cost paid by consumers at fuel stations.
The latest adjustment comes amid volatility in international oil markets following the conflict between the United States and Iran and broader tensions across the Middle East. Fluctuations in global petroleum prices have prompted repeated changes in domestic fuel rates.
Fuel Prices Remain Below April Peaks
Diesel prices have fallen considerably from their peak of Rs520.35 per litre, recorded April 3. Before reaching that level, the price had climbed from around Rs281 per litre after the conflict began Feb. 28.
Petrol also reached a peak of Rs458.41 per litre on April 3, after rising from approximately Rs266 in the first week of March.
Despite the latest reduction in petrol prices, fuel costs remain a significant expense for households and businesses, particularly those dependent on road transport.
Government Introduces Fuel-Saving Measures
The government has introduced austerity measures aimed at reducing fuel consumption and managing the impact of higher energy costs. Under these measures, markets are required to close by 9 p.m., while fuel allocations for official vehicles have been reduced by 50% for three months.
Prime Minister Shehbaz Sharif also announced a relief scheme on Sept. 13 for motorcycle owners, rickshaw operators and users of vehicles with engine capacities of up to 800cc. The initiative was intended to ease the burden of rising international oil prices on eligible consumers.
In July, Petroleum Minister Ali Pervaiz Malik announced a shift to daily fuel price adjustments in response to fluctuations in international markets following renewed hostilities between Iran and the United States.
The Oil and Gas Regulatory Authority (OGRA) was assigned responsibility for determining prices based on international market trends, replacing the weekly revision mechanism that had been followed since early March.
Impact on Transport and Household Budgets
Petrol price changes directly affect household transport expenses, particularly for middle- and lower-income groups that rely on motorcycles, rickshaws and small cars.
Diesel prices also influence public transport, freight and goods transportation costs. Changes in diesel rates can affect the expenses of moving essential commodities, potentially influencing prices paid by consumers.
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