Govt slashes high-speed diesel price by Rs7.76 per litre, petrol by Rs3.40

The government has lowered petrol by Rs3.40 per litre and high-speed diesel (HSD) by Rs7.76, with the new rates taking effect on Nov 3. Petrol will cost Rs374.51 per litre and HSD Rs395.20, according to an Ogra notification reported by Dawn.

The government continues to collect Rs114 per litre in taxes and duties on petrol and Rs100 on diesel. Under a new arrangement, refineries will absorb a monthly cumulative cost of Rs15 billion, which the government says will enable a Rs14.71 per litre reduction in petrol for consumers. The move comes amid wider fuel relief measures and austerity steps, including earlier market closing times and reduced fuel allocations for official vehicles.