Govt reduces petrol price by Re0.14 per litre, high-speed diesel rate by Rs1.89

According to Dawn, the government lowered petrol rates by Rs0.14 per litre and high-speed diesel by Rs1.89 on Wednesday. The new prices apply from October 1, a Thursday, under a Petroleum Division notification. Petrol will sell for Rs387.40 a litre, and HSD will be priced at Rs400.35 a litre.

Diesel has come down from its April 3 high of Rs520.35, having climbed from Rs281 after the US-Iran war began on February 28. Petrol followed a similar path, rising from Rs266 in early March to a peak of Rs458.41 on April 3.

Taxes and levies account for Rs114 of each litre of petrol and Rs100 of each litre of diesel. A cabinet decision gave Ogra responsibility for setting fuel prices daily, based on international market trends. Separately, the government has reintroduced austerity steps, including a 50 per cent cut in fuel allocations for official vehicles over three months.