Pakistan Govt Cuts Petrol Price by Rs2.20 and HSD by Rs1.50 for Three Days, Ending Volatile Fuel Rate Fluctuations.

On Friday, the Pakistan federal government reduced the selling price of petrol by Rs2.20 per litre and high‑speed diesel (HSD) by Rs1.50 per litre for the next three days, ending on August 10. The new fixed prices are Rs327.62 for petrol and Rs380.86 for HSD, as announced in a notification from the Ministry of Petroleum. This adjustment comes a day after the government had lower petrol by Rs3.19 and HSD by Rs1.50 on August 7, demonstrating a rapid response to market changes. The daily price review, introduced on July 17, uses a seven‑day average of international market prices to set domestic rates, a practice that follows international standards. Pakistan imports most of its refined petroleum products, so moves in global oil prices directly affect the country’s import bill, foreign exchange reserves, and inflation level. A recent rise in oil prices followed reports of an Iranian parliamentary committee reviewing a bill that would ban US and Israeli vessels from the Strait of Hormuz, an area crucial for global oil transit.