Petrol price falls again, diesel gets bigger cut in Pakistan
Petrol and HSD prices reduced
The federal government has reduced the price of petrol by Rs1.49 per litre and high-speed diesel (HSD) by Rs2.73. The new rates will take effect from September 30.
After the reduction, petrol will be sold at Rs387.54 per litre. The new price of HSD has been set at Rs402.24 per litre.
New system for daily fuel prices
The Oil and Gas Regulatory Authority (OGRA) has started publishing daily petroleum prices on its website. The move is aimed at improving transparency and allowing changes in international oil prices to reach local consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said the daily rates are based on a seven-day average of international market prices. He said the method follows international practice for fuel price calculations.
Why fuel prices are changing
The government has moved towards more frequent fuel price reviews because of continued volatility in global oil markets. Recent tensions in the Middle East have also created uncertainty around international energy supplies.
The government had earlier shifted to a weekly review system after the conflict involving Israel, the United States and Iran began. The Strait of Hormuz, a major route for global energy supplies, has remained a key concern during the tensions.
Middle East tensions remain a factor
The latest changes in global oil markets are being watched closely because disruptions in energy supplies can affect fuel prices. Renewed tensions after the collapse of a fragile truce between Tehran and Washington have added to concerns over energy flows.
Pakistan’s fuel prices are linked in part to movements in international petroleum markets. OGRA continues to publish updated market data and petroleum price information as part of the pricing process.
The latest cut means consumers will pay less for both petrol and HSD from September 30. The reduction in HSD is larger than the cut in petrol.
The new daily pricing approach could make local fuel rates respond more quickly to changes in international markets. However, future prices will still depend on global oil movements and other factors used in the pricing formula.
Also read: iPhone 18 series PTA tax touches sky in Pakistan
Also read: Get loans up to Rs5 million now under new SECP proposal
