The federal government reduces the prices of petrol and high-speed diesel by Rs2 per litre. This adjustment applies for the next fifteen days and takes effect from Wednesday night. According to a press release from the Finance Division, the new petrol price is Rs252.63, while high-speed diesel now sells at Rs256.64 per litre. However, the government keeps the prices of kerosene oil and light diesel oil unchanged.
This decision follows earlier efforts to prevent a larger reduction in fuel prices. Global prices for petrol and diesel recently dropped by about $6 and $5 per barrel, respectively. Despite this, the government previously blocks a possible Rs10 cut by amending an old law. Officials explain that the maximum petroleum levy already reaches Rs70 per litre for petrol, diesel, and HOBC. To stop further price drops, they increase the levy cap to Rs80 through an amendment to the Petroleum Levy Ordinance 1961.
The government justifies this move as a way to manage demand and protect foreign reserves. Officials believe lower prices could lead to higher consumption and more carbon emissions. The prime minister says the additional levy helps fund road projects in Sindh and Balochistan. These development funds also aim to maintain support from political allies in those regions. While the global market sees a decline, the government balances economic pressure with political strategy.
This measured reduction offers minor relief to the public while maintaining broader fiscal control. Energy pricing remains a key issue in economic planning, and authorities continue to monitor trends closely.
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