ISLAMABAD-UNS: The federal government has revised petroleum prices, increasing the price of petrol by Rs2.97 per litre while announcing a substantial Rs32.63 per litre reduction in high-speed diesel (HSD).
According to a notification issued by the Petroleum Division, the new price of petrol has been fixed at Rs337.51 per litre, while HSD will now be available at Rs363.06 per litre.
The revised rates take effect from Thursday, August 20, and will remain applicable for one day.
Despite the reduction in diesel prices, taxes and duties remain a significant component of fuel costs. The government is currently imposing around Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
The latest cut has brought diesel prices sharply down from the peak of Rs520.35 per litre recorded on April 3. HSD had risen considerably from around Rs281 per litre following the outbreak of the US-Iran conflict on February 28.
Earlier, Petroleum Minister Ali Pervaiz Malik said the government was aware of the financial difficulties facing the public and was making efforts to provide relief.
