Summary:
- The government has reduced petrol prices by Rs8.47 per litre, from Rs269.43 to Rs260.96, and high-speed diesel by Rs6.7 per litre, from Rs272.77 to Rs266.07.
- This price cut comes as a result of falling global fuel prices and provides relief just before Pakistan’s Independence Day celebrations.
- The reduction is the second consecutive cut in two weeks, despite an unchanged petroleum development levy (PDL).
In a move that brings relief to many, the Pakistani government has announced a significant reduction in fuel prices. Effective immediately, petrol prices have been lowered by Rs8.47 per litre, bringing the cost down from Rs269.43 to Rs260.96. High-speed diesel has also seen a decrease, with its price falling by Rs6.7 per litre, from Rs272.77 to Rs266.07.
This adjustment in fuel prices is timely, coming just before Pakistan’s Independence Day celebrations on August 14. The reduction offers a welcomed relief to the public as they prepare for the 77th anniversary of the nation’s independence. The price cut is attributed to a recent drop in global fuel prices, which has affected consumption and demand across major economies.
This is the second consecutive reduction in fuel prices over the past two weeks. The previous fortnight saw a decrease of Rs6.17 per litre for petrol. Despite this, the petroleum development levy (PDL) remains unchanged at Rs70 per litre, as set by the federal budget for 2024-25.
For many, particularly those in the middle and lower-middle classes who rely heavily on petrol for daily commuting, this price cut is a much-needed break from the financial strain caused by high fuel costs.
Additionally, the transport sector, which depends on high-speed diesel for operations, will benefit from this reduction, potentially easing the inflationary pressures on essential goods like vegetables and other food items.
Overall, the government’s move to lower fuel prices comes as a timely boost for citizens celebrating Independence Day, reflecting both an adjustment to global market trends and a response to domestic economic needs.