Petrol price dropped by Rs7.06 per litre, high-speed diesel by Rs3.71

The government reduced petrol by Rs7.06 per litre and high-speed diesel (HSD) by Rs3.71, Dawn reported on Wednesday. From Nov 5, petrol will cost Rs362.00 per litre and HSD Rs387.81, according to the Oil and Gas Regulatory Authority notification. This is the third consecutive cut in fuel prices.

The reduction coincided with international crude falling below $100 a barrel. The government continues to collect Rs114 per litre in petrol taxes and duties and Rs100 on diesel, while refineries are to absorb a cumulative Rs15 billion levy impact over 30 days under a recently announced arrangement. Petrol and diesel prices affect transport users and businesses reliant on heavy vehicles, power plants and generators.