ISLAMABAD — The federal government on Friday reduced the price of petrol by Rs2 per litre and left the price of high-speed diesel (HSD) unchanged.
According to a notification from the Petroleum Division, petrol has been fixed at Rs330 per litre and HSD at Rs360 per litre for the period from November 14 to November 16. The Oil and Gas Regulatory Authority (OGRA) is also reported to have announced the revised rates.
The latest revision follows a cut on Thursday. Under that notification, petrol fell by Rs3 to Rs332 per litre and diesel by Rs4 to Rs360 per litre, effective November 13. Petrol has now fallen by Rs5 per litre over two consecutive revisions, while diesel was left unchanged in the latest one.
Daily pricing and relief measures
Fuel prices in Pakistan are currently reviewed in short cycles. On July 17, the government replaced the weekly pricing mechanism with daily reviews, citing renewed tensions between the United States and Iran that had unsettled global oil markets and raised concerns about supply.
On November 2, the government announced that refineries would bear a burden of Rs15 billion per month, allowing petrol to be sold Rs15 per litre below the global market price. The Express Tribune links this to the US-Israeli war on Iran.
In September, Prime Minister Shehbaz Sharif announced a relief scheme offering Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc. The government estimated it would cover about 11.8 million beneficiaries. On September 17, it also reintroduced fuel conservation and austerity measures, including earlier closing times for shops and markets.
The government has not yet announced prices for the period after November 16.
