Petrol price slashed by Rs9.41 per litre, high-speed diesel by Rs5.56

The government lowered petrol by Rs9.41 per litre and high-speed diesel (HSD) by Rs5.56, Dawn reported on Thursday. From Nov 6, petrol will cost Rs352.59 per litre and HSD Rs382.25, following four successive cuts. Taxes and duties remain Rs114 per litre on petrol and Rs100 on diesel.

The government says oil refineries will absorb a combined Rs15 billion toward the petroleum levy under a 30-day arrangement announced on Monday, enabling a Rs14.71 reduction in petrol for consumers. Petroleum Minister Ali Pervaiz Malik also said the government was exploring a similar mechanism for LPG. The latest revisions follow earlier price peaks on April 3, when HSD reached Rs520.35 and petrol Rs458.41 per litre. The changes matter to transport, power generation and fuel-related businesses, which use petrol or diesel.