ISLAMABAD: The government of Pakistan has reduced the petrol price by Rs4 per litre for the fifth consecutive time, bringing the new rate to Rs373.78, according to an official notification.
However, the price of high-speed diesel (HSD) also decreased by Rs2 per litre and was fixed at Rs378.78 per litre.
The notification confirmed that the revised petroleum prices will take effect from June 13.
Earlier, market speculation had suggested further changes in the upcoming fortnightly review, with reports indicating petrol prices could be reduced by up to Rs10 per litre and diesel by up to Rs30 per litre, depending on global oil trends and import costs.
Officials had also indicated that the Prime Minister was expected to approve the latest price revision, after which the Petroleum Division would issue a formal notification.
Petrol pump owners demand monthly fuel price review
Earlier, Petrol pump owners in Pakistan called on the government to replace the current weekly fuel pricing mechanism with a monthly review system, arguing that frequent price revisions are creating financial and administrative challenges for fuel retailers.
According to the petrol pump owners’ association, regular fluctuations in fuel prices are undermining business stability and making it increasingly difficult for dealers to manage operations effectively.
Petrol pump owners maintain that setting fuel prices on a monthly basis would bring greater stability to the market and provide a more predictable business environment.
The association further stated that a monthly pricing mechanism would benefit both fuel dealers and consumers by reducing uncertainty and improving planning.
Calling for an immediate review of the existing petroleum pricing framework, the association urged the authorities to address the issue without delay.
Petrol pump owners warned that if their demands are not accepted, they will launch a nationwide protest campaign. They added that responsibility for any escalation of the situation would rest with the relevant authorities should the matter remain unresolved.
The association also argued that frequent changes in fuel prices are contributing to growing uncertainty and frustration among consumers.
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