The federal government has lowered the prices of major petroleum products for the first half of December, cutting high-speed diesel (HSD) by Rs4.79 per litre and petrol by Rs2 per litre.
Under the revised pricing, petrol now stands at Rs263.45 per litre, while HSD has been reduced from Rs265.45 to Rs263.45 per litre.
The Inter-Freight Equalisation Margin (IFEM) on HSD has been revised down from Rs6.13 to Rs4.31 per litre, and for petrol from Rs8.20 to Rs8.15 per litre.
The downward revision follows a decline in global fuel markets. Brent crude averaged $63.43 per barrel, down 2.5% from the previous cycle. Arab Light slipped 2.2% to $65.61 per barrel, while international petrol prices fell 2.7% to $74.32 per barrel and diesel by 3.8% to $88.76.
Despite zero general sales tax on petroleum products, the government continues to collect Rs79.50 per litre on HSD and Rs80.52 per litre on petrol through the petroleum levy and climate support levy.
