Staff Reporter
ISLAMABAD:
The federal government has ended its recent streak of fuel price hikes by announcing a notable reduction in the price of petrol, cutting it by Rs7.54 per litre for the first half of August. The new price of petrol will be Rs264.61 per litre, effective from August 1. However, the price of high-speed diesel (HSD) has been marginally increased by Rs1.48 per litre, setting the new rate at Rs285.83.
The revised prices were notified by the Finance Division on Thursday following recommendations from the Oil and Gas Regulatory Authority (OGRA) and consultations with relevant ministries. The fortnightly fuel price review takes into account global oil market trends and fluctuations in the exchange rate.
In the last pricing cycle, petrol had seen a hike of Rs5.36 per litre, while diesel had surged by Rs11.37 per litre. The latest adjustment offers some relief to consumers, particularly those relying on petrol for transportation.
In a separate development, OGRA also announced a significant cut in the price of Liquefied Petroleum Gas (LPG), bringing welcome relief to domestic users. The price of LPG has been reduced by Rs17.74 per kilogram for August. Consequently, the price of an 11.8kg household cylinder has dropped by Rs209.24 — from Rs2,750.60 in July to Rs2,541.36 this month.
According to OGRA’s notification, the per kilogram price of LPG now stands at Rs215.36 for August, compared to Rs233 last month.
These downward revisions in petroleum and LPG prices come amid growing public pressure over inflation and rising living costs, and may ease some burden on households in the short term.
