Pakistan slashes petrol price by Rs1 for next fortnight
ISLAMABAD: The Pakistani government has reduced the price of petrol by Rs1 per liter for the next fortnight, the Finance Division announced late Friday.
After the latest revision, a liter of petrol will now cost Rs254.63, while the price of high-speed diesel remains unchanged at Rs258.64, according to a Finance Division notification.
'The Oil and Gas Regulatory Authority has worked out the consumer prices of petroleum products based on the price variations in the international market,' the notification read.
Fuel prices in Pakistan are reviewed and adjusted fortnightly. The mechanism ensures that the net impact of changes in import costs is passed on to consumers, helping sustain the country's fuel supply chain.
Petrol is mostly used in Pakistan for private transport, small vehicles, rickshaws, and two-wheelers. At the same time, diesel powers heavy vehicles used for transportation of good across the South Asian country.
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ISLAMABAD: Pakistan's government has decided to increase the price of petrol by Rs1 per liter till the next fortnight as per the recommendations of the Oil and Gas Regulatory Authority (OGRA) and relevant ministries, the Finance Division announced recently. Petrol is primarily used in Pakistan for private transportation, including small vehicles, rickshaws and two-wheelers. Diesel, on the other hand, powers heavy vehicles used for transporting goods across the country. 'The government has decided the following prices of petroleum products for the fortnight starting tomorrow, based on the recommendations of OGRA and the relevant ministries,' the Finance Division said in a statement on Saturday. After the latest revision in prices, a liter of petrol will cost Rs253.63 while the government has kept the rate of diesel unchanged at Rs254.64 per liter. Fuel prices in Pakistan are reviewed and adjusted on a fortnightly basis. This mechanism ensures that changes in import costs are reflected in consumer prices, helping to sustain the country's fuel supply chain. The Finance Division kept the price of petrol unchanged and slashed the rate of high-speed diesel by Rs2 per liter during its last review on May 16. The new price of petrol has already taken effect.
