Petrol price down by Rs1.70, HSD’s up by Rs1.39

The Oil and Gas Regulatory Authority has revised ex-depot fuel rates effective August 12, cutting petrol by Rs1.70 per litre to Rs325.92 while lifting high-speed diesel by Rs1.39 to Rs382.25. The diesel increase follows a Rs2 per litre rise in the petroleum levy on that fuel, taking the levy to Rs76.28 from Rs74.28 per litre. According to Business Recorder, the revised figures were issued through a notification from the Petroleum Division.

Petrol's levy remains unchanged at Rs80 per litre, while the Climate Support Levy stays at Rs5 per litre. Customs duty is set at Rs21 per litre for petrol and Rs15.68 per litre for diesel. In a recent tweet, Finance Minister's Adviser Khurram Shehzad defended the diesel adjustment as a step back toward the budgeted levy, not a fresh tax increase.

Prices stayed unchanged for August 11, carrying forward the rates set for August 8 to 10, because Singapore Platts quotations were not published on August 10. Daily pricing also responds to currency fluctuations and a rolling seven-day average of Singapore Platts quotes.