ISLAMABAD: The government has reduced high-speed diesel (HSD) prices by Rs7 per litre and petrol by Rs3 per litre, setting new rates at Rs364 and Rs335, respectively, for November 12.
According to the Oil and Gas Regulatory Authority (OGRA), the revised prices have been calculated under the petroleum pricing mechanism approved by the federal government.
The reduction brings petrol down from Rs338 to Rs335 per litre, while HSD has been reduced from Rs371 to Rs364 per litre.
The larger reduction in diesel prices is significant for Pakistan’s transport and agriculture sectors, as HSD is the main fuel used by buses, trucks, tractors and heavy agricultural machinery.
Lower diesel prices can reduce the operating costs of goods transporters and public transport operators, while farmers may also benefit from lower expenses on machinery used for agricultural activities.
Petrol, meanwhile, is primarily consumed by motorcycles, cars, rickshaws and other small vehicles. Its Rs3 per litre reduction offers some relief to daily commuters, particularly households that depend on motorcycles for travel to workplaces, educational institutions and markets.
The reduction in both fuels could help ease transportation costs and provide some support in controlling the prices of essential commodities. However, consumers will benefit meaningfully only if transport operators, traders and businesses pass on the savings through lower fares and prices.
Despite the latest cuts, households continue to face pressure from high living costs, expensive food items and rising daily expenses. The reductions are therefore unlikely to provide substantial relief on their own.
The revised petrol and diesel prices are applicable for November 12.
