Pakistan cuts petrol and diesel prices for fifth fortnight

Pakistan government on Tuesday announced a reduction in the prices of petroleum products for the first fortnight of October.

The price of diesel has been reduced by PKR 3.40 to PKR 246.29 per liter, petrol by PKR 2.07 to PKR 247.03 per liter, kerosene by PKR 3.57 to PKR 154.90 per liter, and light diesel oil by PKR 1.03 to PKR 140.90 per liter.

The fluctuation in petroleum product prices over the past fortnight has necessitated these adjustments, the Finance Division stated in the notification.

The Oil and Gas Regulatory Authority (OGRA) has calculated the new consumer prices based on international market trends and exchange rate variations. This adjustment aims to align domestic consumer prices with the current international market conditions, providing some relief to consumers amid ongoing economic challenges.

LPG prices

Meanwhile, OGRA also announced the new maximum prices for Liquefied Petroleum Gas (LPG).

For producers, the price per ton has been set at PKR 210,003.79, with an 11.8 kg cylinder priced at PKR 2,478.04. This marks an increase from September's prices of PKR 202,691.77 per ton and PKR 2,391.76 per cylinder, reflecting a rise of PKR 7,312.04 or 3.6% per ton and PKR 86.28 (3.5%) per cylinder.

For consumers, the new price per ton is PKR 251,303.79, with an 11.8 kg cylinder now costing PKR 2,965.38. This is up from September's prices of PKR 243,991.77 per ton and PKR 2,879.10 per cylinder, also showing an increase of PKR 7,312.04 per ton and PKR 86.28 per cylinder.

These adjustments reflect the ongoing changes in the market and aim to ensure a balanced approach to pricing for both producers and consumers.