Govt Slashes Petrol Price by Rs. 5.16, Diesel by Rs. 7.69 Per Litre

The federal government has reduced petrol prices by Rs. 5.16 per litre and high-speed diesel (HSD) by Rs. 7.69, providing some relief to consumers as the revised rates take effect from Tuesday, October 20. Under the latest revision, petrol will now cost Rs. 381.14 per litre, down from Rs. 386.30, while high-speed diesel will be available at Rs. 389.27 per litre, compared with the previous rate of Rs. 396.96. According to a notification issued by the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised petroleum prices under the government's pricing mechanism. Despite the latest reduction, the government continues to collect Rs. 114 per litre in taxes and duties on petrol and Rs. 100 per litre on diesel, keeping a substantial tax burden on both fuels. Fuel Prices Fall Amid Global Market Fluctuations The latest cut follows a previous reduction in petrol prices announced on October 16, when the government lowered the rate by Rs. 3.93 per litre while keeping diesel prices unchanged at Rs. 396.96 until October 19. The latest adjustment reflects developments in international petroleum markets, including changes in Platts benchmark prices, premiums and other incidental costs, according to reporting on the Petroleum Division's notification, The reductions come after fuel prices surged earlier in the year amid the US-Iran conflict and wider disruption in energy markets. Petrol had reached a peak of Rs. 458.41 per litre on April 3, while high-speed diesel climbed to Rs. 520.35 per litre on the same date.