Govt cuts petrol price by Rs4 per litre

News Desk 

Islamabad: The federal government on Friday announced a reduction in petroleum prices, cutting the rate of petrol by Rs4 per litre and high-speed diesel (HSD) by Rs2 per litre for the week ending June 19.

According to a notification issued by the Petroleum Division, the revised prices came into effect from June 13.

Under the new rates, petrol will now be available at Rs373.78 per litre, down from Rs377.78, while the price of high-speed diesel has been reduced to Rs378.78 per litre from the previous Rs380.78.

In contrast, the government increased the price of kerosene oil by Rs1.49 per litre. Following the revision, kerosene will now cost Rs282.19 per litre compared to the earlier rate of Rs280.70.

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Last week, the government had reduced petrol prices by Rs4 per litre while keeping HSD prices unchanged.

The government has been conducting weekly reviews of petroleum prices since the escalation of the US-Israel conflict with Iran on February 28, which disrupted global energy markets.

The conflict also intensified concerns over global fuel supplies after the closure of the Strait of Hormuz, a critical maritime route through which nearly one-fifth of the world’s oil and gas supplies transit during normal conditions.

Petrol is primarily consumed by owners of small vehicles, motorcycles, and rickshaws, making price fluctuations particularly significant for middle- and lower-income households that depend on fuel for daily commuting.

Meanwhile, high-speed diesel is widely used in the transport and agriculture sectors, including trucks, buses, trains, tractors, tube wells, and threshers. Any change in diesel prices is often viewed as inflationary due to its impact on transportation and farming costs.