Petrol Prices: Pakistan Cuts Petrol to Rs338, Diesel to Rs371 per Litre

ISLAMABAD: The government has announced a fresh reduction in petroleum prices, lowering petrol by Rs8 per litre and high-speed diesel (HSD) by Rs7, providing some relief to consumers and businesses facing high fuel costs.

Under the revised rates, petrol will cost Rs338 per litre, down from Rs346, while high-speed diesel will fall to Rs371 from Rs378 per litre. The new prices take effect on Wednesday, November 11.

The adjustment follows the petroleum pricing mechanism approved by the federal government and reflects recent changes in international oil prices and exchange rates.

The latest reduction comes after a series of downward revisions in recent days, as improving global oil trends and currency movements eased pressure on domestic fuel prices.

Despite the cuts, taxes and duties continue to account for a substantial portion of the retail price. The government is collecting Rs114 per litre on petrol and Rs100 per litre on diesel, according to the supplied figures.

Refineries are also absorbing part of the petroleum levy for 30 days, a measure that has helped keep consumer prices lower than they would otherwise have been.

The reduction in petrol prices offers direct relief to car and motorcycle owners, while the lower diesel rate could help transport operators and businesses manage operating costs.

High-speed diesel powers a large share of the country’s trucks, buses and generators. Its lower price could gradually reduce transportation and goods-delivery expenses if transporters pass the savings on to consumers.

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Businesses that depend heavily on logistics may also benefit from lower operating costs, although the impact on overall inflation will depend on how quickly transporters and retailers adjust their prices.

Fuel prices surged earlier this year after the conflict involving Iran and the United States pushed international oil prices higher. High-speed diesel climbed above Rs520 per litre in April before entering a sustained downward trend.

Petrol prices also rose sharply from around Rs266 per litre in March.

Although the latest reductions provide further relief, domestic fuel prices remain significantly above their pre-crisis levels. Renewed volatility in international oil markets could also reverse the recent decline.