Petrol, HSD prices cut by Rs8, Rs11 per litre

ISLAMABAD: For the first time after coming to power, caretaker Prime Minister Anwaarul Haq Kakar’s government on Saturday reduced the prices of petrol and high-speed diesel (HSD) by Rs8 and Rs11 per litre, respectively, for the next fortnight ending October 15.

The price cut has come after an increase of Rs59 and Rs56 per litre in petrol and HSD rates, respectively, since August 15.

LPG rate increased

On the other hand, the government increased the price of liquefied petroleum gas (LPG) by about 9pc, pushing up the cost of 11.8-kg domestic cylinder by Rs246.15 for October 2023. This is on top of about 20pc jump in LPG price last month.

The announcement for decrease in petrol and HSD prices was made by the Ministry of Finance just before midnight, following clearance from the caretaker prime minister. “In the wake of variations in international prices of petroleum products and the improvement in the exchange rate, the government of Pakistan has decided to revise the consumer prices of petroleum products,” it said.

Under the decision, the ex-depot price of petrol was fixed atRs323.38 per litre instead of Rs331.38 for next fortnight. Likewise, the ex-depot price of HSD was set at Rs318.18 per litre instead of Rs329.18 at present. The retail price at pump would, however, be well above Rs319 per litre.

Meanwhile, the Oil & Gas Regulatory Authority (Ogra) set the price of LPG at Rs261 per kg for October against Rs240 in September, up by Rs21 or 8.7pc. As such, the 11.8kg domestic cylinder price was set at Rs3,079.64 for the current month.