In response to recent international oil market fluctuations, Pakistan’s Finance Division announced a reduction in petroleum product prices effective for the next 15 days. The price adjustments are as follows:
- High-Speed Diesel (HSD): Reduced by Rs5.31, now priced at Rs258.64 per liter.
- Petrol: Decreased by Rs0.50, bringing the new price to Rs255.63 per liter.
- Kerosene Oil: Lowered by Rs3.53, now at Rs168.12 per liter.
- Light Diesel Oil (LDO): Reduced by Rs2.47, with a new price of Rs153.34 per liter.
Pakistan revises fuel prices fortnightly to reflect changes in import costs, ensuring consumers experience the direct impact of global oil price movements. This practice helps maintain the country’s fuel supply chain’s stability.
Petrol is predominantly used by private vehicles, motorcycles, rickshaws, and small cars in Pakistan. Conversely, diesel fuels heavy transportation and agricultural machinery. Therefore, any reduction in diesel prices can potentially ease inflationary pressures, particularly affecting the cost of transporting goods, including essential commodities like vegetables and other food items.
These price cuts aim to provide some relief to consumers amidst the ongoing economic challenges and fluctuating global oil prices.
