Govt trims petrol by Rs4, diesel Rs2/litre

ISLAMABAD:

The government on Friday reduced the prices of petrol and high-speed diesel for the week beginning June 13 (today), providing marginal relief to consumers in the latest fortnightly review.

The government has slashed the price of petrol by Rs4 per litre and diesel by Rs2 per litre.

According to a notification issued by the Ministry of Energy (Petroleum Division), the price of Motor Spirit (petrol) has been reduced to Rs373.78 per litre from the earlier Rs377.78 per litre, reflecting a decrease of Rs4 per litre.

The price of High-Speed Diesel (HSD) has been cut to Rs378.78 per litre compared to the previous Rs380.78 per litre, marking a reduction of Rs2 per litre. The revised prices will take effect on June 13.

The government had also reduced the price of petrol by Rs4 per litre last week, while keeping the price of high-speed diesel unchanged for the subsequent week.

High-speed diesel is widely used in the transport and agriculture sectors, while petrol is primarily consumed by motorcycles and cars. Due to the ban on the use of indigenous gas in Punjab province, demand for petrol has increased significantly.

Kerosene oil is mainly used in remote areas, especially in northern parts of the country where LPG is not available for cooking purposes. The Pakistan Army is a key user of kerosene oil, while light diesel oil is used in industrial operations.

Meanwhile, the legal oil industry has recently witnessed a rise in smuggled petroleum products from Iran, which continues to pose a major threat to the sales of petrol and diesel by local refineries.

Industry stakeholders say they have been struggling to curb the growing influx of smuggled petroleum products from Iran.

Although the government has taken some measures, smuggling continues, posing a serious challenge to local refinery upgradation plans and the broader petroleum supply chain.