The government on Wednesday announced a significant reduction in petroleum prices for the next fortnight, cutting petrol by Rs10.28 per litre and high-speed diesel (HSD) by Rs8.57 per litre.
According to a late-night notification issued by the Petroleum Division, the price revision was made in line with fluctuations in international oil markets and recommendations from the Oil and Gas Regulatory Authority (Ogra).
The ex-depot price of petrol has been reduced to Rs253.17 per litre from Rs263.45. Petrol is widely used in private transport, motorcycles, rickshaws and small vehicles, and its price directly affects middle- and lower-middle-income households.
Similarly, the ex-depot price of HSD has been lowered to Rs257.08 per litre from Rs265.65. Diesel is the primary fuel for the transport and agricultural sectors, and its price is considered highly inflationary as it impacts the cost of food items and essential goods.
Despite zero GST on petroleum products, the government continues to levy petroleum charges, climate support levy, customs duty, and distribution margins, making petrol and diesel key revenue sources.
