ISLAMABAD: The federal government has reduced the price of petrol by Rs4 per litre, while keeping the price of high-speed diesel (HSD) unchanged.
According to a notification issued by the Petroleum Division, the revised fuel prices came into effect on June 6 and will remain applicable for the next week.
Following the cut, the price of petrol has been reduced to Rs377.78 per litre from Rs381.78 per litre. However, the price of high-speed diesel remains unchanged at Rs380.78 per litre.
The government has also increased the price of kerosene oil by Rs8.70 per litre. After the increase, kerosene will now be available at Rs280.70 per litre.
The government has been reviewing petroleum prices every week since the start of the US-Israel conflict with Iran on February 28. The conflict led to concerns over global fuel supplies after the closure of the Strait of Hormuz, a major route through which nearly one-fifth of the world’s oil and gas shipments pass during normal times.
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Last week, the government reduced the prices of both petrol and diesel by Rs22 per litre, calling it an Eidul Adha relief package for the public.
Under the May 29 notification, the price of petrol was reduced to Rs381.78 per litre from Rs403.78, while the price of high-speed diesel was cut to Rs380.78 per litre from Rs402.78.
On the same day, the Oil and Gas Regulatory Authority (OGRA) also reduced the price of kerosene oil by Rs41.44 per litre, bringing it down to Rs272 per litre from Rs313.44.
Petrol is widely used by owners of small cars, motorcycles and rickshaws. Any increase or decrease in petrol prices directly affects the travel costs and household budgets of middle- and lower-income families across the country.
