ISLAMABAD: The Finance Division announced on Sunday night that petrol price will remain unchanged, while the price of high-speed diesel (HSD) will be reduced by Rs3 per litre for the next fortnight.
A notification from the Finance Division stated that the new price of HSD was Rs269.99, while petrol would remain at Rs264.61—the same as the start of August. Additionally, the prices of superior kerosene oil and light diesel oil were slashed by Rs1.46 per litre and Rs2.40, respectively.
“The government has revised the petroleum product prices for the fortnight starting tomorrow (September 1), in line with the recommendations of Ogra (Oil and Gas Regulatory Authority) and the concerned ministries,” the Finance Division stated.
Earlier this week, the cabinet’s Economic Coordination Committee (ECC) approved a financial bailout for Pakistan Television (PTV), a recovery plan for Rs47 billion in outstanding petroleum levy from Cynergico Refinery, and the use of funds collected under the captive levy on gas to reduce electricity rates for all consumers.
Most of the transport sector runs on HSD and its price is considered inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube-wells and threshers and particularly adds to the prices of vegetables and other eatables.
On August 16, the Finance Division announced a cut of Rs12.84 per litre in the price of HSD for the next fortnight, while petrol prices remained unchanged. The prices of superior kerosene oil and light diesel oil were slashed by Rs7.19 per litre and Rs8.2, respectively.
