Islamabad:
The government gave consumers a little break on Saturday, reducing RS4 per liter on high -speed diesel and RS1 on petrol while world oil prices made a dive.
The new prices – RS256.13 per liter for petrol and RS263.95 per liter for HSD – will take effect from February 16 (today).
The Petroleum and Gas Regulatory Authority (OGRA) had recommended a revision of fuel prices according to fluctuations in the international oil market.
HSD, a key fuel for transport and agriculture, is now at the price of RS263.95 per liter.
The reduction can cause a certain relief by lowering the cost of transporting goods, which has potentially attenuated inflationary pressure on products.
Meanwhile, petrol, mainly used in motorcycles and cars, experienced a modest reduction of RS1 per liter, bringing its new price to Rs256.13.
It can be noted that petrol serves as an alternative to compressed natural gas (GNC), in particular Punjab, where GNC stations have either switched to imported gas or closed in recent years.
The price of kerosene oil, widely used for cooking in low -income households, especially in northern Pakistan, has been reduced by RS3.20 per liter, which brought it to Rs171.65.
With a decrease of Rs 5.25 per liter, the new price of light diesel oil is calculated at Rs155.81 per liter.
The recent reduction in petroleum products is likely to relieve consumers essential as a result of high inflation.
Local fuel prices are calculated on the basis of taxes imposed by the government, IFEM costs and exchange rate fluctuations.
The data indicates that the petrol bonus is currently set at $ 7.75 per barrel, paid on imported fuel. The petroleum industry recently imported three fuel ships.
The government is currently taking an oil load of 60 rupees per liter on petrol and HSD.
Although the tax is intended for the development of the petroleum sector, including storage infrastructure, funds are mainly used to meet current government expenses.
