Pakistan government cuts petrol and diesel prices by Rs3.19 and Rs1.50 per litre, effective Aug 7, after Ogra decision.

The federal government announced on Thursday a cut in the retail price of petrol and high‑speed diesel (HSD). Petrol is now Rs329.82 per litre and HSD will sell for Rs382.36 per litre. The pricing change is effective from Friday, 7 August. The government keeps a tax of Rs110 per litre on petrol and Rs96 per litre on HSD. The notification said the new rates would take effect on the next business day. The diesel price has fallen from a peak of Rs520.35 on 3 April. The rise began after the US‑Iran conflict on 28 February and the price climbed from Rs281 per litre. Petrol reached Rs458.41 on 3 April after rising from Rs266 earlier in March. The earlier announcement by Petroleum Minister Ali Pervaiz Malik said that fuel prices would now be fixed on a daily basis due to market volatility. The government had been adjusting the rates weekly since early March. In April it also announced targeted relief measures to subsidise fuel. The prime minister and cabinet have given the Oil and Gas Regulatory Authority (Ogra) the authority to determine daily prices based on international market trends. The All Pakistan Dealers Association rejected the daily pricing decision and said it would consider a protest plan. Petrol mainly powers private cars, rickshaws and two‑wheelers, affecting middle and lower‑middle classes. Diesel is used chiefly by heavy transport, power plants and large generators, so price changes affect the wider public. Petrol and HSD are the major revenue sources, with monthly sales of about 700,000 to 800,000 tonnes, compared with around 10,000 tonnes of monthly kerosene demand.