Motorists get almost no relief as petrol, diesel prices fall in Pakistan
Petrol price sees another cut
The government reduced the petrol price by Rs1.70 per litre under the latest fuel price revision. Petrol will now be sold at Rs392.05 per litre.
The government linked the reduction to changes in international oil prices. The revised petrol price will remain applicable for September 23, according to the Petroleum Division notification.
HSD price also reduced
The price of high-speed diesel (HSD) was cut by Rs3.12 per litre. After the reduction, HSD will be available at Rs418.96 per litre.
The latest decision has brought relief to consumers using both petrol and diesel. The government continues to adjust fuel prices according to movements in the international oil market.
Daily fuel price system continues
The Oil and Gas Regulatory Authority (Ogra) has started publishing daily petroleum prices on its website. The move is intended to improve transparency and allow international oil price changes to be reflected more quickly in local fuel rates.
Petroleum Minister Ali Pervaiz Malik said the daily prices are calculated using a seven-day average of international market prices. He said the method follows international practice.
Middle East tensions affect oil markets
The government introduced the daily fuel price review system amid continued volatility in global oil prices. Renewed tensions in the Middle East have increased uncertainty in international energy markets.
The government had earlier moved to weekly fuel price reviews after the conflict in the Middle East began on February 28. The conflict affected the Strait of Hormuz, an important route for global energy supplies.
Strait of Hormuz remains a key concern
The Strait of Hormuz is a major passage for international energy shipments. Any disruption in the area can influence global oil prices and create pressure on fuel markets.
Tensions increased after a fragile June truce between Tehran and Washington collapsed. The situation raised concerns about a wider conflict and possible disruption to energy flows through the Strait.
Fuel rates now reviewed more frequently
Petroleum prices were previously revised every two weeks before the government moved to weekly reviews. The latest system allows fuel prices to be adjusted more frequently according to international market movements.
The daily mechanism is designed to pass changes in global oil prices to consumers faster. This could also mean more frequent changes in petrol and diesel prices in the local market.
The latest decision reduces both petrol and HSD prices at a time when international oil markets remain volatile. The new daily review system means local fuel rates can respond more quickly to changes abroad.
For consumers, the actual impact will depend on future international oil prices and market conditions. The latest cuts provide some immediate relief, particularly for people and businesses that rely heavily on fuel.
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