Islamabad:
The Government on Saturday gave consumers a respite a bit, cutting RS4 per liter in high -speed diesel and RS1 in gasoline as global oil prices took a dip.
The new prices, RS256.13 per liter for gasoline and RS263.95 per liter for HSD, will enter into force as of February 16 (today).
The Petroleum and Gas Regulatory Authority (OGRA) had recommended a review of fuel prices based on fluctuations in the international oil market.
HSD, a key fuel for transport and agriculture, now has a price of RS263.95 per liter.
The reduction can provide some relief by reducing the cost of transporting goods, potentially relieving inflationary pressure on basic products.
Meanwhile, gasoline, mainly used in motorcycles and cars, saw a modest RS1 reduction per liter, carrying its new price at RS256.13.
It should be noted that gasoline serves as an alternative to compressed natural gas (CNG), particularly in Punjab, where CNG stations have changed to imported or closed gas in recent years.
The price of cheerosene oil, widely used to cook in low -income homes, especially in northern Pakistan, has been reduced by RS3.20 per liter, taking it to RS171.65.
With a decrease in RS5.25 per liter, the new price of light diesel oil is calculated at RS155.81 per liter.
It is likely that the recent reduction in oil -derived products prices provides very necessary consumers due to high inflation.
Local fuel prices are calculated based on government taxes, IFEM costs and exchange rate fluctuations.
The data indicates that the gasoline premium is currently established at $ 7.75 per barrel, paid in imported fuel. The oil industry recently imported three gasoline ships.
The government is currently raising an oil position of RS60 per liter in gasoline and HSD.
Although the tax is intended for the development of the oil sector, including storage infrastructure, funds are mainly used to satisfy the current government expenses.
