The government has reduced the prices of petrol and high-speed diesel (HSD), with the new rates taking effect from September 19.
Following the latest revision, petrol will be available at Rs389.14 per litre, reflecting a reduction of Rs1.65, while the price of HSD has been cut by Rs0.88 to Rs424.04 per litre.
The government continues to impose taxes and duties of Rs114 per litre on petrol and Rs100 per litre on diesel.
The revised prices will remain applicable from September 19 to September 21. The adjustment has been attributed primarily to fluctuations in international petroleum prices, along with changes in global market premiums and other relevant pricing factors.
HSD has declined substantially from its peak of Rs520.35 per litre, recorded on April 3. The price had risen from around Rs281 per litre following the outbreak of the US-Iran conflict on February 28.
Petrol had also reached a peak of Rs458.41 per litre on April 3, after beginning to rise from around Rs266 per litre in early March.
Amid continued volatility in international oil markets, the government has introduced several fuel-conservation measures. These include requiring markets to close by 9pm and reducing fuel allocations for official vehicles by 50 per cent for three months.
The government has also announced a targeted fuel relief programme for owners of motorcycles, rickshaws, three-wheelers and vehicles with engines up to 800cc. Under the scheme, eligible users are set to receive relief of Rs100 per litre within specified monthly fuel quotas.
Fuel prices have also shifted to a daily pricing mechanism in response to fluctuations in international markets and renewed tensions in the region. Previously, fuel prices were revised on a weekly basis.
Petrol remains widely used by private vehicles, motorcycles, rickshaws and other small vehicles, meaning price changes directly affect household transportation costs. HSD is primarily consumed by heavy transport, power plants and large generators, making its price an important factor for transportation and energy costs.
Petrol and HSD remain the government’s major petroleum revenue sources, with combined monthly sales reaching approximately 700,000 to 800,000 tonnes, compared with around 10,000 tonnes of monthly kerosene demand.
