Govt reduces fuel price by Rs4, diesel by Rs2 per litre

• The federal government has cut rates of petrol and high-speed diesel (HSD) by Rs4 and Rs2 per litre respectively for the week ending June 19, a notification issued by the Petroleum Division on Friday said.

The new fuel prices will be effective from 12.01 am on June 13.

The price of petrol has been reduced from Rs377.78 to Rs373.78 a litre and that of high-speed diesel from Rs380.78 to Rs378.78 a litre after the drop.

The government has also published an official announcement regarding the new petroleum rates.

Last week the petrol prices were cut by Rs4 per litre while the HSD price was kept fixed.

Pakistan has been undertaking weekly reviews of petroleum pricing due to volatility in global energy markets following escalation of hostilities in the Middle East.

Tensions over Iran are raising fears that global oil supplies could be affected, particularly after disruptions to the Strait of Hormuz, a critical shipping channel for over a quarter of the world’s oil and gas supply in peacetime.

Petrol is mostly utilised by motorists, motorcyclists and rickshaw drivers, hence its price is a crucial issue in the everyday expenses of middle- and lower-income people.

High speed diesel is commonly utilised in transport & agricultural industries in trucks, buses, trains, tractors, tube wells & threshers.