petrol price cut
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Petrol price cut by 94 paisa, diesel become more e…

ByJustpaste.in

 

The government has reduced the price of petrol while increasing the price of high-speed diesel, according to a notification issued by the Petroleum Division.

The Petroleum Division has formally announced changes in the prices of petroleum products, with the revised rates taking effect from midnight. Under the new pricing structure, the price of petrol has been reduced by 94 paisa per litre, while the price of diesel has increased by 54 paisa per litre.

Following the revision, the new price of petrol has been fixed at Rs324.98 per litre, compared with the previous rate. Meanwhile, high-speed diesel will now be available at Rs382.79 per litre.

According to the notification, the revised prices of petroleum products will be applicable for August 13 and will come into effect from 12am tonight.

The latest adjustment comes just a day after the government made another revision to petroleum prices. On the previous day, petrol had been reduced by Rs1.70 per litre, while the price of diesel had been increased by Rs1.39 per litre.

The repeated adjustments in petroleum prices come amid fluctuations in international oil prices and changes in domestic pricing factors. Petrol and diesel prices are closely watched in Pakistan because changes in fuel rates can directly affect transportation costs, electricity generation, industrial activity and the prices of everyday goods.

The government has also reduced the price of kerosene oil.

According to the notification issued by the Oil and Gas Regulatory Authority (OGRA), the price of kerosene oil has been cut by 41 paisa per litre. Following the reduction, the new price of kerosene oil has been set at Rs289.27 per litre.

Kerosene oil is used by households and other consumers in areas where access to conventional gas or other energy sources can be limited. Any change in its price can therefore have an impact on household energy expenses.

 

Alongside the change in the retail price of diesel, the government has also increased the petroleum levy imposed on the fuel.

According to OGRA, the petroleum levy on diesel has been increased by Rs1 per litre. Following the increase, the levy on diesel now stands at Rs77.28 per litre.

The petroleum levy on petrol, however, has remained unchanged at Rs80 per litre. Similarly, the levy on kerosene oil has also been maintained at Rs20.36 per litre.

The latest revision means consumers will see a marginal reduction in the price of petrol and kerosene oil, while diesel users will face a slight increase. Although the changes are relatively small on a per-litre basis, fuel price revisions can have a broader impact on the economy because diesel is widely used by public transport, commercial vehicles, agriculture and the industrial sector.

The government is expected to continue reviewing petroleum prices in line with prevailing market conditions and other relevant pricing factors. For consumers, the latest notification provides a mixed outcome, with petrol and kerosene becoming slightly cheaper while diesel has become more expensive.

The revised rates will remain applicable from August 13, with implementation beginning at midnight.

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