Govt reduces petrol price by Rs2.20, high-speed diesel by Rs1.50
The government on Friday reduced the prices of petrol and high-speed diesel (HSD) by Rs2.20 and Rs1.50 per litre, respectively. Following the revision, petrol will retail at Rs327.62 per litre while HSD will cost Rs380.86 per litre. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on HSD. According to the Petroleum Division’s notification, the new prices will apply from August 8 to 10. The diesel price has come down from a peak of Rs520.35 recorded on April 3. Its price had started rising from Rs281 per litre after the US-Iran war broke out on February 28. The petrol price had peaked at Rs458.41 on April 3 after beginning its upward trajectory from Rs266 in the first week of March. Earlier, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be fixed on a daily basis due to fluctuations in international market prices following renewed hostilities between Iran and the US. The government had been announci...