Government lowers petrol and diesel costs

The notice states that the new price of petrol is Rs 247.03 per litre, a decrease of Rs 2.7 per litre.

Light diesel has been reduced by Rs 1.30 per liter, while high-speed diesel has seen a cut of Rs 3.40 per liter. Additionally, the price of kerosene oil has dropped by Rs 3.57 per liter.

In light of the world’s escalating gasoline prices, this move attempts to relieve consumer inflationary pressure.

Prior to this, it was claimed that beginning on October 1, petroleum product prices in Pakistan are anticipated to drop.

Details: The sources stated that on September 30, the federal government was anticipated to declare a substantial drop in gas prices.

According to sources, starting on October 1, there will likely be a fall in petroleum product prices of between Rs 1 and 3 per litre.

Pakistan’s diesel and petrol prices are determined by a complicated interplay between government control and external factors. The import parity pricing formula, which OGRA uses to compute the base price, is heavily impacted by changes in currency rates and the price of crude oil globally. This is basically a reflection of the price of fuel imports.