Govt cuts petrol price by Rs 14, HSD by Rs 13.50 per liter

The caretaker federal government cut the price of petrol by Rs 14 per liter and high-speed diesel (HSD) by Rs 13.50 per liter on Friday, providing much-needed relief to people who have borne the brunt of a severe economic crisis since then. mid 2022.

The decline came after crude oil prices fell in international markets and the Pakistani rupee appreciated against the US dollar.

According to a Finance Department release, the price of kerosene oil was reduced by Rs 10.14, while the prices of light diesel oil (LDO) were reduced by Rs 11.29 per litre.

It said that the prices of petroleum products were reduced on the recommendation of the Oil and Gas Regulatory Authority (Ogra). After the reduction, the price of petrol has come down from Rs 281.34 to Rs 267.34 per litre.

Read more: Petrol price likely to be cut by over Rs 13 per litre

Petrol is mainly used in motorcycles and cars as an alternative to compressed natural gas (CNG), especially in Punjab province where domestic gas is not available at CNG retail outlets.

Similarly, the tariff of HSD was reduced from Rs 289.71 to Rs 276.21 per litre. HSD is mainly used in the agriculture and transport sectors, and this reduction in price may help moderate inflation to some extent.

The new price of kerosene oil, the consumption of which rises significantly during winters in remote areas, had become Rs 191.02 per litre, while LDO was available at Rs164.64 per litre.

Kerosene oil is commonly used in stoves, especially in remote areas, including the northern parts of the country. Pakistan’s military is also a major consumer of kerosene oil.