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- The government cut the petrol price by only Re0.50 to Rs255.63 per liter
- Pakistan revises fuel prices every fortnight based on international rates
ISLAMABAD: Pakistan has slashed the prices of petroleum products by up to Rs5 per liter for the next 15 days, the Finance Division announced late Friday.
The government slashed the price of high-speed diesel by Rs5.31 to Rs258.64 per liter, while that of petrol by only Re0.50 to Rs255.63 per liter.
The price of kerosene oil went down by Rs3.53 to Rs168.12 and that of light diesel oil by Rs2.47 to Rs153.34, according to a Finance Division notification.
“The Oil & Gas Regulatory Authority (OGRA) has reviewed & adjusted consumer prices for petroleum products in view of recent fluctuations in the international oil market,” it read.
Fuel prices in Pakistan are reviewed and adjusted fortnightly. The mechanism ensures that the net impact of changes in import costs is passed on to consumers, helping sustain the country’s fuel supply chain.
Petrol is mostly used in Pakistan for private transport, small vehicles, rickshaws, and two-wheelers. At the same time, any increase in the price of diesel is considered highly inflationary as it is mostly used to power heavy transport vehicles and particularly adds to the prices of vegetables and other eatables.