Pakistan government cuts petrol price by Rs2.20 and diesel by Rs1.50 to ease fuel cost amid market changes.

The federal government announced that it would reduce the price of petrol by Rs2.20 per litre and high‑speed diesel (HSD) by Rs1.50 per litre. As a result, petrol will now retail at Rs327.62 per litre and HSD will cost Rs380.86 per litre. The government still levies Rs114 per litre in taxes and duties on petrol and Rs100 per litre on HSD. The new prices are scheduled to apply from August 8 to August 10, according to a notification from the Petroleum Division. The diesel price has fallen from a peak of Rs520.35 recorded on April 3, while the petrol price had peaked at Rs458.41 on the same day after rising from Rs266 in early March. Earlier, Petroleum Minister Ali Pervaiz Malik said that fuel prices would now be fixed on a daily basis because international market prices fluctuate after renewed hostilities between Iran and the United States. The cabinet and prime minister have given the Oil and Gas Regulatory Authority (OGR) the authority to set prices daily. The All Pakistan Dealers Association did not accept the daily pricing decision and said it would consider a protest plan. Petrol is mainly used for private transport, small vehicles, rickshaws, and two‑wheelers, while diesel is used in heavy transport, power plants, and large generators. Petrol and high‑speed diesel are major revenue earners for the government, with monthly sales of about 700 000 to 800 000 tonnes. In contrast, monthly demand for kerosene is only about 10 000 tonnes.