Petrol price cut by by Rs2; high-speed diesel price remains unchanged

Dawn reported that the government lowered petrol by Rs2 per litre from Nov 14, while high-speed diesel (HSD) stayed at Rs360 per litre. The revised petrol rate is Rs330 per litre and applies through Nov 16, according to an Oil and Gas Regulatory Authority notification. This is the ninth straight reduction in petrol prices.

Taxes and duties amount to Rs114 per litre on petrol and Rs100 on diesel. A 30-day arrangement announced on Nov 2 requires oil refineries to absorb a combined Rs15 billion contribution towards the petroleum levy, enabling a Rs14.71 reduction in the retail petrol rate. The government has also resumed austerity steps, including a 9pm closing time for markets and a 50pc cut in official-vehicle fuel allocations for three months. Petrol is widely used by private transport and smaller vehicles, while diesel serves heavy transport, power plants and large generators.