ISLAMABAD: The government has cut the price of high-speed diesel (HSD) by Rs1.89 and petrol by 14 paisa per litre, with the revised rates of Rs400.35 and Rs387.40 respectively applicable for October 1 only.
According to the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) has revised the ex-depot prices under the federal government’s daily petroleum pricing mechanism.
The price of HSD has been reduced from Rs402.24 to Rs400.35 per litre, while the price of motor spirit (petrol) has been cut from Rs387.54 to Rs387.40 per litre.
The latest adjustment provides relatively greater relief to diesel consumers, who will pay Rs1.89 less per litre, while petrol consumers will receive a marginal relief of 14 paisa per litre.
The revised prices, however, will remain applicable for October 1 only, as petroleum prices are now reviewed and revised on a daily basis under the new pricing mechanism.
The reduction in diesel prices is particularly significant for the transport and agriculture sectors, where HSD is widely used by trucks, buses, goods carriers, tractors, tube-wells, generators and other heavy machinery. Any sustained decline in diesel prices can help reduce operating costs for freight, transportation and agricultural activities.
Petrol is predominantly used by motorcycles, cars, rickshaws and other light vehicles, making changes in its price directly relevant to household transportation expenses, particularly for daily commuters who rely on motorcycles.
The latest reduction follows the September 30 adjustment, when petrol and HSD prices were reduced by Rs1.49 and Rs2.73 per litre respectively.
Under the daily pricing mechanism, petroleum prices can be revised again depending on movements in international petroleum prices and other relevant pricing components.
According to the Petroleum Division, the latest adjustment was necessitated by changes in international market conditions, including Platts rates, premiums and incidentals.
Accordingly, petrol will be available at Rs387.40 per litre and HSD at Rs400.35 per litre on October 1, subject to the next daily price review.