Petrol and Diesel Prices Slashed Again by Government in September
The federal government has once again reduced the prices of petroleum products, marking the second price cut this month. As of September 1, the price of petrol has been decreased by Rs. 1.86 per liter, bringing it down to Rs. 259.1 per liter. Similarly, the price of high-speed diesel (HSD) has been reduced by Rs. 3.32 per liter, now standing at Rs. 262.75 per liter.
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This latest reduction is attributed to the ongoing decline in international oil prices. Over the past two weeks, the import premium on petrol dropped by approximately 50 cents per barrel, settling at $8.50, while the premium on high-speed diesel remained steady at $5 per barrel. The Pakistani Rupee maintained its position at 278 against the US dollar.
Fuel Price Update: Government Cuts Petrol and Diesel Rates for the Second Time.
To provide some context, during the last fortnightly review, the government had already slashed the price of petrol by Rs. 8.47 per liter and reduced the price of high-speed diesel by Rs. 6.7 per liter. These consecutive reductions reflect the global trend of falling oil prices, which have provided some relief to consumers.
