Petrol price cut by Rs8, HSD’s by Rs7

Business Recorder reported that petrol will cost Rs338 per litre from November 11, down Rs8 from Rs346. High-Speed Diesel (HSD) is reduced by Rs7 to Rs371 per litre, from Rs378. The changes were announced by the Oil and Gas Regulatory Authority (OGRA).

OGRA attributed the revisions to international market developments, Platts pricing, premiums and incidental costs. The international petrol benchmark fell to USD 97.12 per barrel from USD 101.92, while HSD’s benchmark declined to USD 100.57 from USD 104.34. Petrol’s ex-refinery price moved down to Rs241.56 per litre from Rs249.92, and HSD’s to Rs263.28 from Rs269.86.

The report said government levies and fixed profit margins for both fuels remain unchanged. The reductions affect fuel costs for consumers and are relevant to Pakistan’s oil and gas marketing sector.