Govt reduces petrol price by Rs3.63 per litre, raises high-speed diesel rate by Re0.31

Dawn reported that the government lowered the petrol price by Rs3.63 per litre on Wednesday, yet raised high-speed diesel (HSD) by Re0.31 per litre. From October 16, a Friday, petrol will retail at Rs390.23 per litre and HSD at Rs396.96 per litre, according to the Petroleum Division notification.

Levies stand at Rs114 per litre for petrol and Rs100 per litre for diesel, covering taxes and duties. Diesel has retreated from its high of Rs520.35 registered on April 3, after rising from Rs281 once the US-Iran war began on February 28. Petrol's peak of Rs458.41, reached on April 3, followed a climb from Rs266 in early March.

Separately, the authorities have restored a set of spending curbs as fuel costs climb amid the Middle East conflict, requiring markets to close at 9pm and cutting official vehicle fuel allocations by 50 per cent for three months.