The federal government on Thursday reduced the price of petrol by Rs0.43 per litre while increasing the price of high-speed diesel (HSD) by Rs3.47 per litre, with the revised rates taking effect on Friday, September 18.
Following the adjustment, petrol will be available at Rs390.79 per litre, while HSD will rise to Rs424.92 per litre.
According to the Petroleum Division, the government continues to collect Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
The Oil and Gas Regulatory Authority (OGRA) attributed the latest adjustment primarily to changes in international petrol and diesel prices. It said domestic rates were calculated after taking into account global market prices, premiums and other relevant factors.
Despite the latest increase, HSD remains below its April 3 peak of Rs520.35 per litre. Diesel had been priced at around Rs281 per litre before beginning a steep rise following the outbreak of the US-Iran war on February 28.
Petrol followed a similar trajectory, climbing from around Rs266 per litre in early March to a peak of Rs458.41 on April 3.
The latest revision comes days after Prime Minister Shehbaz Sharif announced targeted fuel relief for motorcycles, rickshaws and small cars to “alleviate the burden” of higher global oil prices.
Under the scheme, owners of two- and three-wheelers are to receive relief of Rs100 per litre on a monthly quota of 20 litres. The same per-litre relief will be available to owners of cars up to 800cc for a maximum of 30 litres per month.
Amid volatility in international energy markets, Petroleum Minister Ali Pervaiz Malik announced on July 17 that Pakistan would move to daily fuel-price adjustments. The government had previously shifted to weekly revisions in early March as the Middle East conflict raised concerns over global oil supplies.
Federal authorities have also introduced fuel conservation measures and targeted subsidies in an effort to limit the impact of elevated energy prices on consumers.