The federal government on Wednesday announced another reduction in fuel prices, lowering petrol by Rs1.93 per litre and high-speed diesel (HSD) by Rs4.21 per litre for September 24.
According to a Petroleum Division notification, petrol will cost Rs390.12 per litre on Thursday, while the price of HSD has been set at Rs414.75 per litre.
The latest adjustment follows another reduction announced a day earlier, when petrol was cut by Rs1.70 per litre and HSD by Rs3.12 per litre.
Pakistan shifted to a daily petroleum pricing system on July 17, replacing the previous weekly mechanism as volatility in international oil markets increased amid renewed tensions between the United States and Iran and concerns over global fuel supplies.
The government has also introduced measures aimed at cushioning lower-income consumers from high fuel costs. Earlier this month, Prime Minister Shehbaz Sharif announced a scheme offering a Rs100-per-litre subsidy on petrol for motorcycles, three-wheeler rickshaws and cars with engines of up to 800cc.
The proposed programme is expected to cover around 11.8 million beneficiaries. Approximately 10 million motorcycle users and 800,000 three-wheeler users would receive relief on up to 20 litres each month, giving them a maximum monthly benefit of Rs2,000.
Another one million owners of cars with engines up to 800cc would be eligible for the subsidy on 30 litres each month, providing maximum monthly relief of Rs3,000.
Alongside targeted fuel assistance, the government reintroduced austerity and energy-conservation measures on September 17.
Under the measures, shops, markets, malls and most retail outlets are required to close by 9pm, while marriage halls and other venues hosting festive events must close by 10pm. Restaurants, cafes and food outlets may operate until 11pm, with takeaway and home-delivery services exempt from the restrictions.