Petrol Price Cut by Rs1.93, HSD by Rs4.21

The government has reduced the ex-depot price of petrol by Rs1.93 per litre and High-Speed Diesel (HSD) by Rs4.21 per litre from September 24. The new prices follow changes in global oil rates.

According to the Petroleum Division’s notification, the ex-depot price of petrol has fallen from Rs392.05 to Rs390.12 per litre. The price of HSD has decreased from Rs418.96 to Rs414.75 per litre.

Petrol and Diesel Prices

The Oil and Gas Regulatory Authority (OGRA) calculated the revised prices using a seven-working-day rolling average of daily Platts Arab Gulf Mean prices.

During the review period, the average international price of petrol fell to $131.20 per barrel from $132.30. The average HSD price declined to $118.94 per barrel from $121.34.

Import Costs and Government Levies

The import cost of petrol has decreased from Rs281.49 to Rs279.56 per litre. The import cost of HSD has fallen from Rs312.05 to Rs307.84 per litre.

The government has kept the petroleum levy at Rs80 per litre for both fuels. The Climate Support Levy remains Rs5 per litre.

The dealer margin remains Rs9.98 per litre for petrol and HSD. Oil marketing companies will continue to receive a margin of Rs7.87 per litre.

Customs duty remains Rs23.68 per litre for petrol and Rs15.68 per litre for HSD.

The Inland Freight Equalisation Margin (IFEM) has been set at Rs7.71 per litre for petrol and Rs4.06 per litre for HSD.

Pakistan imports more than 80% of its petroleum products. Changes in international oil prices therefore have a direct impact on domestic fuel pricing.