In a continued effort to provide relief in line with global oil prices, the federal government has announced a reduction in fuel prices for the fifth consecutive fortnight. According to an official notification issued on Monday, the new prices will take effect from October 1.
The price of petrol has been cut by Rs2.07, bringing it down to Rs247.03 per litre from the previous Rs249.10. Similarly, high-speed diesel (HSD) saw a decrease of Rs3.40, reducing the price from Rs249.69 to Rs246.29 per litre. In addition, kerosene oil prices have been reduced by Rs3.57, and light diesel oil by Rs1.03 per litre.
The recent adjustments are part of a broader initiative led by Prime Minister Shehbaz Sharif, under which the price of petrol has been slashed by Rs28.57 and diesel by Rs37.51 over the past two months. The most recent cut occurred on September 15, when petrol prices were reduced by Rs10 per litre, and the price of HSD saw a Rs13.06 reduction.
Revised Fuel Prices (Effective October 1)
| Product | Existing Price | New Price | Decrease |
|---|---|---|---|
| Petrol | Rs249.10 | Rs247.03 | -Rs2.07 |
| High-Speed Diesel | Rs249.69 | Rs246.29 | -Rs3.40 |
| Kerosene | Rs158.47 | Rs154.90 | -Rs3.57 |
| Light Diesel Oil | Rs141.93 | Rs140.90 | -Rs1.03 |
Petrol, commonly referred to as mogas, is widely used in private transportation, including small vehicles, rickshaws, and two-wheelers, making its price particularly impactful for middle- and lower-middle-class households. Conversely, high-speed diesel (HSD) plays a crucial role in the transport sector, powering heavy goods vehicles, trucks, buses, trains, and agricultural machinery. Due to its use in transporting goods, the price of diesel is considered inflationary, as it directly influences the cost of food items such as vegetables and other essentials.
The recent price reductions are expected to alleviate some of the financial pressure on citizens, particularly those in the middle and lower-income brackets.
