ISLAMABAD: The government has reduced the prices of petrol and high-speed diesel (HSD) by Rs2.27 and Rs3.56 per litre, respectively, bringing petrol down to Rs389.03 and diesel to Rs404.97 for September 29.
According to the Petroleum Division, the price of motor spirit (petrol) has been reduced from Rs391.30 to Rs389.03 per litre, while the price of high-speed diesel has been slashed from Rs408.53 to Rs404.97 per litre.
The revised prices are applicable for September 29 only under the government’s daily petroleum pricing mechanism, offering consumers some relief amid fluctuations in international oil prices.
The Petroleum Division issued the revised petroleum prices following the price determination by the Oil and Gas Regulatory Authority (OGRA).
The latest reduction has pushed the price of petrol below the Rs390-per-litre mark, while HSD has also recorded a notable decline, although its price remains above Rs400 per litre.
The reduction in HSD prices is particularly significant for consumers and businesses because diesel is extensively used by commercial transport, trucks, buses, tractors and other heavy machinery. Lower diesel prices can reduce fuel expenses for these sectors, although the extent to which the relief reaches consumers depends on freight rates, transport charges and other operating costs.
The reduction in petrol prices will directly benefit motorists, particularly private vehicle owners, as the price of the widely used fuel has returned below the Rs390-per-litre level.
Under the daily pricing mechanism, the government may review petroleum prices again after the one-day applicability period based on the relevant pricing factors.