Pakistanis will pay Rs 15.39 less for a litre of petrol starting today, a sharp cut that brings the price down to Rs 273.10. High-speed diesel followed suit with a Rs 7.88 reduction, now retailing at Rs 274.08 per litre.
The Finance Division issued the notification late Friday night after Prime Minister Shehbaz Sharif approved the summary from the Oil and Gas Regulatory Authority (OGRA). This marks the second consecutive price drop in a month, offering a rare breather to a public hit hard by high living costs.
The price of kerosene oil fell by Rs 9.86, bringing it to Rs 173.48. Light diesel oil also saw a cut of Rs 7.54, now priced at Rs 161.17.
This relief at the pump stems directly from a downward trend in the international oil market over the last fortnight. While the government is under pressure from the IMF to maintain high tax collection through the Petroleum Development Levy (PDL) — currently capped at Rs 60 per litre — the global price dip was significant enough to allow for a domestic pass-through.
The impact of this cut should, in theory, trickle down to transport fares and the cost of essential goods. Historically, transporters are quick to hike prices when fuel goes up but slow to adjust them when it drops. Local administrations in various provinces have already been directed to ensure the benefit reaches the common man through reduced public transport fares.
These rates will remain in effect for the next 15 days. For a population still grappling with inflation hovering above 20%, every rupee saved at the fuel station counts. Whether this downward trend continues depends entirely on the volatility of the Middle East and global supply chains in the coming weeks.
