Pakistan Announces Significant Cuts in Fuel Prices to Alleviate Consumer Burden

petrol prices down in pakistan

In an effort to bring respite to consumers, the government of Pakistan has declared substantial cuts in the prices of petrol, high-speed diesel (HSD), and light diesel oil (LDO) for the next fortnight, effective from June 1, 2023, according to an official proclamation on Wednesday. 

The finance division, in an official communique released late on Wednesday, confirmed a deduction of Rs 8 per litre in petrol prices, bringing the cost down from Rs 270 to Rs 262 per litre. Furthermore, prices of HSD and LDO have seen a decrease of Rs 5 per litre each. The new price for HSD is Rs 253 per litre, down from Rs 258, while the LDO will now cost Rs 147.68 per litre, down from Rs 152.68. Meanwhile, the cost of kerosene oil remains unchanged at Rs 147.68 per litre. 

The finance division underscored the government’s commitment to providing relief to consumers in the face of increasing living costs. Petrol, widely consumed by motorbikes and small cars and often employed as a compressed natural gas (CNG) alternative, will now be more affordable for everyday consumers. 

Read More: Pakistan To Borrow Record Rs9.44 Trillion From Banks To Repay Maturing Debt And Finance Expenditures –

The HSD, primarily used in agriculture and transport sectors, and the LDO, primarily used in industry, are vital to Pakistan’s economy. The reduction in HSD prices is expected to favourably impact farmers and could also lead to a reduction in transportation costs of goods. 

Kerosene oil, which remains steady in price, is primarily used in Pakistan’s remote regions, especially in the north, where liquefied petroleum gas (LPG) isn’t available for cooking purposes. The military, particularly in the northern part of the country, also relies heavily on kerosene oil. 

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