ISLAMABAD: The federal government has announced a reduction in petrol and high-speed diesel prices for the upcoming fortnight, offering marginal relief to consumers. The new prices will be effective from June 13.
Price Reductions Announced
According to a notification from the Ministry of Energy (Petroleum Division), the price of Motor Spirit (petrol) has been reduced by Rs4 per litre, bringing it down to Rs373.78 from the previous Rs377.78. Similarly, the price of High-Speed Diesel (HSD) has been cut by Rs2 per litre, now standing at Rs378.78 compared to the earlier Rs380.78.
Impact on Key Sectors
High-speed diesel is widely used in the transport and agriculture sectors, while petrol is primarily consumed by motorcycles and cars. The demand for petrol has surged following a ban on indigenous gas usage in Punjab province. Kerosene oil, mainly used in remote northern areas where LPG is unavailable, is a key fuel for the Pakistan Army. Light diesel oil is utilized in industrial operations.
Smuggling Concerns Persist
The legal oil industry continues to face challenges from smuggled petroleum products originating from Iran. This illicit influx poses a significant threat to local refinery sales and upgradation plans. While the government has implemented measures to curb smuggling, stakeholders report that the issue remains unresolved, impacting the overall petroleum supply chain.
Last week, the government had similarly reduced petrol prices by Rs4 per litre while keeping diesel prices unchanged.
