The federal government of Pakistan has announced a reduction in fuel prices for the next fortnight, effective from October 1. According to an official notification issued on Monday, the price of petrol has been slashed by Rs2.07 per litre, bringing it down from Rs249.10 to Rs247.03 per litre.
In addition to the reduction in petrol prices, the price of high-speed diesel (HSD) has also been decreased by Rs3.40 per litre, lowering the cost from Rs249.69 to Rs246.29 per litre. Kerosene oil prices have been reduced by Rs3.57 per litre, bringing the new price to Rs154.90, while light diesel oil has seen a reduction of Rs1.03 per litre, making the new price Rs140.90.
Here is a summary of the new fuel prices:
| Product | Existing Price (Rs) | New Price (Rs) | Increase/Decrease (Rs) |
|---|---|---|---|
| Petrol | 249.10 | 247.03 | -2.07 |
| High-Speed Diesel | 249.69 | 246.29 | -3.40 |
| Kerosene | 158.47 | 154.90 | -3.57 |
| Light Diesel Oil | 141.93 | 140.90 | -1.03 |
Over the past two months, under the direction of Prime Minister Shehbaz Sharif, the government has significantly reduced the prices of petrol and diesel. Petrol prices have been reduced by a total of Rs28.57, while diesel prices have seen a reduction of Rs37.51.
On September 15, the federal government had already notified a cut of Rs10 per litre in petrol prices and a Rs13.06 per litre reduction in the price of HSD.
Petrol, also known as mogas, is mainly used for private transportation, small vehicles, rickshaws, and two-wheelers. The reduction in petrol prices is expected to provide some relief to the middle and lower-middle classes, who primarily consume petrol for their daily commuting.
High-speed diesel, on the other hand, is extensively used in the transport sector, including heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers. The price of high-speed diesel is considered inflationary due to its widespread use in the transportation of goods. Any reduction in its price can help mitigate the rising costs of vegetables and other food items, which are heavily influenced by transportation costs.
These price adjustments are part of the government’s efforts to ease the financial burden on the population, especially in light of the ongoing economic challenges. The reduction in fuel prices is anticipated to have a positive impact on the overall cost of living by lowering transportation and production costs across various sectors.
