Govt lowers petrol price by Rs0.43 per litre, raises HSD by Rs3.47 per litre

Dawn reported that the government trimmed petrol by Rs0.43 per litre on Thursday, while high-speed diesel (HSD) rose by Rs3.47 per litre. The revised rates take effect on Sept 18, leaving petrol at Rs390.79 per litre and HSD at Rs424.92 per litre.

The Oil and Gas Regulatory Authority (OGRA) linked the revision mainly to higher petrol and diesel rates in international markets, also citing premiums and other factors. Taxes and duties still account for Rs114 per litre on petrol and Rs100 per litre on diesel. Fuel prices have been set daily since a July 17 announcement, with OGRA responsible for the decisions.

Both fuels remain below the peaks reached on April 3, when petrol hit Rs458.41 and HSD Rs520.35 per litre. HSD had climbed from Rs281 after the conflict between the US and Iran started on February 28, while petrol began rising from Rs266 in early March. On September 13, Prime Minister Shehbaz Sharif announced a relief scheme giving Rs100 per litre to two- and three-wheeler owners on a 20-litre monthly quota, and to vehicles up to 800cc on a 30-litre quota.