The government has raised the price of petrol by Rs3.26 per litre, taking the new rate to Rs390.66, while the price of high-speed diesel (HSD) has been reduced by Rs1.01 to Rs399.34 per litre.
According to a Petroleum Division notification, the revised prices will remain applicable from October 2. The government continues to charge around Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
The latest adjustment comes after significant fluctuations in fuel prices this year. HSD had reached a high of Rs520.35 per litre in April, while petrol peaked at Rs458.41 per litre during the same period.
The government has also introduced fuel-conservation measures amid continuing tensions in the Middle East. Under the measures, markets have been directed to close by 9pm, while fuel allocations for official vehicles have been reduced by 50 per cent for three months.
Prime Minister Shehbaz Sharif had earlier announced a relief programme for motorcycles, rickshaws and vehicles up to 800cc to help consumers cope with higher fuel costs. Officials said around 7.60 million registrations had been completed under the scheme, with more than 7.71 million tokens redeemed.
Fuel prices have been subject to frequent revisions this year due to volatility in international oil markets. The government had also authorised the Oil and Gas Regulatory Authority (OGRA) to determine fuel prices based on global market movements.
Petrol is widely used by private vehicles, motorcycles and rickshaws, while diesel is a major fuel for heavy transport, power generation and industrial machinery. As a result, changes in their prices have a direct impact on transportation costs and the prices of goods and services.
