Govt cuts petrol price by Rs5.45 per litre, high-speed diesel by Rs3.68

Pakistan’s government has lowered the per-litre petrol rate by Rs5.45 and the HSD rate by Rs3.68, with the new prices taking effect on Nov 4. Petrol is now priced at Rs369.06 per litre and high-speed diesel at Rs391.52, Dawn reported, citing an Ogra notification. Global crude benchmarks also retreated on Tuesday, with Brent down 2 per cent to $103.14 a barrel and US WTI losing 1 per cent to $95.79.

The government continues to collect Rs114 per litre in petrol-related taxes and duties, compared with Rs100 on diesel. A separate 30-day arrangement requires refineries to absorb a combined Rs15 billion contribution towards the petroleum levy, which the government says would enable a Rs14.71 cut in petrol’s consumer price. The reduction comes amid wider fuel-cost pressures: diesel had reached Rs520.35 and petrol Rs458.41 on April 3, while current austerity steps include earlier market closing and lower official-vehicle fuel allocations.