Petrol and Diesel Prices Reduced by Petroleum Division

The Petroleum Division has lowered the ex-depot prices of petrol and high-speed diesel (HSD) effective from September 23. This reduction follows fluctuations in international oil prices, particularly due to the ongoing conflict in the Middle East.

According to an official notification, the ex-depot price of petrol has decreased by Rs1.70 per litre, moving from Rs393.75 to Rs392.05 per litre. The price of high-speed diesel has dropped by Rs3.12 per litre, now standing at Rs418.96 per litre.

The Oil and Gas Regulatory Authority (OGRA) determined these new rates using a seven-working-day rolling average based on the daily Platts Arab Gulf Means Price. Over this period, the average price for petrol declined to USD 132.30 per barrel from USD 133.27, while the price for HSD fell to USD 121.34 per barrel from USD 123.12. Pakistan imports over 80 percent of its petroleum consumption as refined products.

The notification highlights that government levies and profit margins are largely unchanged. The import cost for petrol has decreased to Rs281.49 per litre from Rs283.19, and for HSD the cost reduced to Rs312.05 per litre from Rs315.17 per litre.

Petrol and HSD both retain a Petroleum Levy of Rs80 per litre and a Climate Support Levy of Rs5 per litre. Dealer profit margins remain at Rs9.98 per litre, while oil marketing companies receive Rs7.87 per litre. Customs duties are fixed at Rs23.68 per litre for petrol and Rs15.68 per litre for HSD. The Inland Freight Equalisation Margin (IFEM) is now Rs7.71 per litre for petrol and Rs4.06 per litre for HSD.