Pakistan Govt Cuts Fuel Prices, RLNG Price Skyrockets Amid US-Iran Conflict

The government of Pakistan has announced a reduction in petrol and high-speed diesel prices for three days. Petrol will retail at Rs336.03 per litre, while high-speed diesel will cost Rs392.38 per litre during this period. The price cut is part of the government's efforts to mitigate the impact of rising fuel costs on consumers.

The new prices are applicable from August 1 to August 3. However, it's worth noting that the prices of regasified liquefied natural gas (RLNG) have increased by a record 32% for August, taking it to $25.83 per mmBtu for SNGPL and $25.09 per mmBtu for SSGCL.

This price hike is mainly due to the US-Iran war, which has affected the availability of gas supplies. The RLNG price had already increased by about 15% last month. Compared to February this year, the current price is a whopping 148% higher.