The new prices will take effect from midnight and will remain applicable for next 15 days, according to notification
A worker holds a fuel nozzle to fills fuel in a car at petrol station in Karachi on September 16, 2023. Photo: REUTERS/ File
The federal government has reduced the price of high-speed diesel by Rs14 per litre for the next 15 days, while keeping petrol prices unchanged, according to a notification issued by the Petroleum Division late Monday night.
Under the revised prices, the new rate of high-speed diesel has been fixed at Rs265.65 per litre. Petrol will continue to be sold at Rs263.45 per litre. The Petroleum Division said the changes will take effect from midnight and remain applicable for the next fortnight.
The notification marks a significant reduction in diesel prices, which is expected to provide some relief to the transport and agriculture sectors. However, motorists using petrol will see no change in fuel costs during the period.
On November 30, the government had also reduced fuel prices by up to Rs4.79 per litre for the fortnight ending December 15. According to a notification issued by the Petroleum Division, petrol was reduced by Rs2 to Rs263.45 per litre, while high-speed diesel saw a cut of Rs4.79 to Rs279.65 per litre.
High-speed diesel is extensively used in the transport and agriculture sectors, meaning reductions have a wide economic impact. Petrol, primarily used in motorbikes and cars, is most consumed in Punjab due to restrictions on the use of indigenous gas at CNG stations.
Fuel prices in Pakistan are reviewed every 15 days, in line with global oil market trends and domestic fiscal considerations.
