Tiny Fuel Price Cut Sparks Public Frustration
At a glance
- Petrol price reduced by 12 paisas to Rs336.03 per litre for August 1.
- HSD price reduced by 66 paisas to Rs392.38 per litre for August 1.
- RLNG prices increased by a record 32% for August due to spot market purchases.
Story so far
For August 1, the government reduced petrol prices by 12 paisas to Rs336.03 per litre and High-Speed Diesel (HSD) by 66 paisas to Rs392.38 per litre. These daily adjustments are based on Singapore Platts trends and currency exchange. Meanwhile, the Oil and Gas Regulatory Authority (OGRA) notified a record 32% increase in regasified liquefied natural gas (RLNG) prices for August, attributed to spot market purchases due to the US-Iran conflict. This significant hike is expected to increase power generation costs. The minor fuel price cut has reportedly sparked public frustration across Pakistan.
Latest development
The recent minor reduction in petrol and High-Speed Diesel prices has reportedly sparked widespread public frustration across Pakistan.
Latest updates
The recent minor reduction in petrol and High-Speed Diesel (HSD) prices has sparked public frustration across Pakistan.
The public has reacted with anger to the small reduction of just 12 paisas in petrol prices for August 1.
The recent reduction in petrol prices has elicited varied reactions from the public, with some expressing relief while others remain critical.
The Ministry of Energy (Petroleum Division) has confirmed a slight decrease in ex-depot prices for petrol and High-Speed Diesel (HSD) effective August 1. Petrol decreased by 12 paisas from its previous rate of Rs336.15 per litre to Rs336.03 per litre. Similarly, HSD saw a 66 paisa decline, moving from Rs393.04 to Rs392.38 per litre.
Under the current pricing framework, the Oil and Gas Regulatory Authority (OGRA) updates fuel tariffs daily, reflecting trends in Singapore Platts over the last seven working days and currency exchange movements. The petroleum levy remains unchanged at Rs80 per litre on petrol and Rs70.82 per litre on HSD. The Climate Support Levy (CSL) is maintained at Rs5 per litre, and Custom Duty is set at Rs18.1 per litre on petrol and Rs15.68 per litre on HSD.
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