Government Slashes Diesel Price by Rs 32.63, Petrol Up by Rs 2.97

The federal government on Wednesday officially notified a significant reduction in the price of high-speed diesel (HSD) by Rs 32.63 per litre, while simultaneously increasing the price of petrol by Rs 2.97 per litre. The new prices are effective from August 20.

According to the notification from the Ministry of Energy's Petroleum Division, the new price for HSD is Rs 363.06 per litre, down from Rs 395.69. The price of petrol has been set at Rs 337.51 per litre, up from Rs 334.54.

Information Minister Attaullah Tarar confirmed the prime minister had directed the petroleum ministry to negotiate with refineries. He added that the Oil and Gas Regulatory Authority (OGRA) would soon announce the final reduction, which is expected to be around Rs32 per litre. The revised prices are anticipated to be calculated for August 20 under the new daily pricing mechanism.

The government on Wednesday announced a significant decrease in the price of high-speed diesel by Rs30 to Rs32 per litre following negotiations with local oil refineries.

In a media briefing, Petroleum Minister Ali Perviz Malik confirmed the price reduction, stating that the government had held successful talks with the refineries as directed by the prime minister.