Staff Report
ISLAMABAD:
In a move aimed at providing relief to consumers, the federal government has announced a significant reduction in petrol and LPG prices for the first half of August, even as the price of high-speed diesel witnessed a minor upward revision.
As per the Finance Division’s notification issued on Thursday, the price of petrol has been lowered by Rs7.54 per litre, bringing the new rate to Rs264.61 from the previous Rs272.15. Meanwhile, high-speed diesel will now cost Rs285.83 per litre after a modest increase of Rs1.48.
The changes will take effect from August 1 and remain applicable for the next 15 days. The pricing adjustments were made following recommendations from OGRA and based on trends in the global oil market and exchange rate fluctuations.
Petrol consumers, who had been burdened by successive price hikes in recent reviews, are expected to benefit from the decrease. However, the uptick in diesel prices may offset relief for sectors dependent on transport and heavy machinery.
In a related development, OGRA has also notified a major reduction in LPG rates. The price of LPG has been slashed by Rs17.74 per kilogram, resulting in a notable drop of Rs209.24 in the cost of an 11.8kg domestic cylinder. The new price of a household LPG cylinder is now Rs2,541.36, down from Rs2,750.60 in July.
The revised LPG price per kilogram for August stands at Rs215.36 compared to Rs233 last month, offering much-needed respite to households that rely on LPG for cooking fuel.
These revisions are part of the government’s fortnightly fuel price review mechanism, which adjusts local prices in line with international benchmarks and currency trends.
