Pakistan reduces petrol price by Rs1.70/litre, diesel by Rs3.12/litre amid global oil market shifts following Iran-US tensions.
Pakistan’s government lowered petrol prices by Rs1.70 per litre and diesel by Rs3.12 per litre effective Wednesday, bringing petrol to Rs392.05 and diesel to Rs418.96 per litre. The cuts come as crude oil markets stabilize following escalations in the Iran-US conflict that had driven prices to record highs earlier this year.
- ▪Petrol now costs Rs392.05/litre; high-speed diesel Rs418.96/litre as of Sept 23
- ▪Government still levies Rs114/litre in taxes on petrol, Rs100/litre on diesel
- ▪HSD peaked at Rs520.35 in April after conflict began Feb 28; petrol peaked at Rs458.41
- ▪Fuel prices now adjusted daily based on international market fluctuations rather than weekly
- ▪Austerity measures remain: markets must close by 9pm, official vehicle fuel allocations cut 50%
- ▪PM announced relief scheme Sept 13 for two-wheelers, autos, and vehicles under 800cc
- ▪Price swings hit middle and lower-middle classes hardest through petrol; diesel impacts transport and power sectors
- ▪Monthly petrol and diesel sales reach 700,000-800,000 tonnes, making them top government revenue sources
Source: according to local media reports
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