Petrol falls Rs1.49 to Rs387.54, HSD down Rs2.73 to Rs402.24 for September 30
ISLAMABAD: The government has further reduced the prices of petroleum products, cutting petrol by Rs1.49 per litre and high-speed diesel (HSD) by Rs2.73 per litre for September 30.
According to the notification issued by the Petroleum Division, the price of petrol has been reduced from Rs389.03 to Rs387.54 per litre, while the price of HSD has been cut from Rs404.97 to Rs402.24 per litre.
The revised prices were determined by the Oil and Gas Regulatory Authority (OGRA), following which the Petroleum Division issued the notification for the new rates.
The new prices will be applicable for one day only, September 30, under the government’s daily petroleum pricing mechanism.
The latest reduction takes the price of petrol further below the Rs390-per-litre mark, while the price of HSD has moved closer to the Rs400-per-litre level.
The reduction in petrol prices will provide some direct relief to motorists, while the cut in diesel prices could have a wider impact on commercial transport, freight operators and the agriculture sector because HSD is extensively used in trucks, buses, tractors and other heavy machinery.
Lower diesel prices can reduce the direct fuel expenses of transport and agricultural users. However, the extent to which consumers benefit from the reduction will depend on freight rates, transport charges and other operating costs.
The latest revision comes under the daily petroleum pricing mechanism, under which prices can be reviewed again based on the relevant pricing calculations.
With the latest cuts, petrol has declined by Rs3.76 per litre over the two consecutive daily revisions, from Rs391.30 to Rs387.54, while HSD has fallen by Rs6.29 per litre, from Rs408.53 to Rs402.24.
The new rates will remain applicable for September 30 only, according to the Petroleum Division notification.