Pakistan Cuts Petrol Price by Rs1.65, HSD by Rs0.88 Amid Global Oil Market Volatility

The Pakistani government has reduced the prices of petrol and High-Speed Diesel (HSD) for the Sept 19-21 period. Petrol will now cost Rs389.14 per litre, down from Rs390.79, while HSD will be available at Rs424.04 per litre, a decrease of Rs0.88 per litre.

The reduction comes as oil markets assess supply concerns in Saudi Arabia alongside tensions in the Middle East. Brent crude futures had fallen by 33 cents to $104.49 a barrel, while US West Texas Intermediate (WTI) futures had risen by 88 cents to $102.79.

Following the revision, the government continues to levy taxes and duties on petrol and diesel. Petrol is subject to a tax of Rs114 per litre, while HSD faces a duty of Rs100 per litre.