ISLAMABAD: The government has reduced the price of petrol by Rs1.70 per litre and high-speed diesel by Rs3.12, with the revised rates taking effect from September 23.
Following the adjustment, petrol is priced at Rs392.05 per litre, while high-speed diesel costs Rs418.96 per litre, according to the Petroleum Division.
The latest revision provides a modest reduction for motorists and transport operators after months of unusually high domestic fuel prices linked to volatility in international energy markets.
Petrol had previously climbed as high as Rs458.41 per litre in early April, while high-speed diesel reached Rs520.35, following a sharp increase in global energy prices associated with the Middle East conflict.
Despite the latest reduction, fuel remains substantially more expensive than before the surge in international oil prices earlier this year.
Changes in petrol and diesel prices have wider implications for the economy because fuel costs feed into passenger transport, freight charges and the cost of moving agricultural and industrial goods. Diesel prices are particularly important for commercial transport and agriculture.
The government has also maintained significant taxes and duties on petroleum products. According to current reporting based on the Petroleum Division notification, these amount to Rs114 per litre on petrol and Rs100 per litre on high-speed diesel.
The September 23 revision comes as Pakistan continues to contend with the economic effects of elevated global energy costs, which have also contributed to a higher inflation outlook for the current fiscal year.