Pakistan reduces petrol by Rs1.93/litre, diesel by Rs4.21/litre as Middle East tensions ease. New prices effective Sept 24.
Pakistan’s government reduced petrol prices by Rs1.93 per litre and high-speed diesel by Rs4.21 per litre effective Thursday. The cuts follow months of price volatility triggered by escalating US-Iran tensions since late February, though taxes and levies remain substantial at Rs114 per litre on petrol and Rs100 on diesel.
- ▪Petrol will now retail at Rs390.12/litre; HSD at Rs414.75/litre starting Sept 24
- ▪HSD has fallen from April peak of Rs520.35/litre; petrol down from Rs458.41 peak
- ▪Government imposed austerity measures: markets must close by 9pm, official vehicle fuel allocations cut 50% for 3 months
- ▪PM announced relief scheme for motorcycles, autos, vehicles up to 800cc to ease burden on lower-middle classes
- ▪Petroleum Division shifted to daily price-setting based on international markets instead of weekly revisions
- ▪Oil and Gas Regulatory Authority now determines fuel prices daily rather than government announcements
- ▪Petrol price rises directly impact private transport users, rickshaws, two-wheelers; diesel affects heavy transport and power generation
- ▪Pakistan sells 700,000–800,000 tonnes of petrol and diesel monthly; prices fluctuate with global crude amid Middle East conflict
- ▪Government levies substantial taxes on fuel despite price reductions, maintaining revenue from petroleum sales
Source: according to local media reports
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