Govt cuts petrol, diesel prices by Rs1.97 per litre for one week

ISLAMABAD: The federal government has reduced the prices of petrol and high-speed diesel by Rs1.97 per litre each, providing modest relief to consumers under the weekly petroleum price review.

According to a notification issued by the Petroleum Division on Friday, the ex-depot price of Motor Spirit (petrol) has been reduced from Rs299.50 to Rs297.53 per litre, while the price of High-Speed Diesel (HSD) has been cut from Rs311.47 to Rs309.50 per litre.

The revised prices took effect on Saturday, July 4, and will remain in force for the next seven days.

Petrol is the most widely used fuel in Pakistan, powering motorcycles, cars, rickshaws, and other light vehicles. High-Speed Diesel is mainly consumed by heavy transport vehicles, buses, tractors, agricultural machinery, and industries. Changes in diesel prices directly affect transportation costs and the movement of goods across the country.

The government reviews petroleum prices every week based on the recommendations of the relevant authorities after assessing international oil prices, the exchange rate, and applicable taxes and levies.