Petrol costs in Pakistan have experienced a Rs 8 decline per litre after a two-month continuous surge, stabilizing at Rs 323.38 per litre.
The new petrol rate is Rs 323.38 per litre, showcasing a reduction of Rs 8. High-speed diesel (HSD) has seen an even bigger dip, with prices going down by Rs 11 per litre, leading to a new rate of Rs 318.18. Kerosene oil has also experienced a drop, now priced at Rs 237.28 per litre after a Rs 7.53 decline.
Government’s Role in Price Fluctuation
Recently, Murtaza Solangi, the Caretaker Minister for Information, provided some insights into the potential decline in petrol prices in the upcoming review, thanks to the Pakistani rupee’s significant strengthening against the US dollar. Discussing the Karachi Press Club topic, Solangi said, “The rupee’s surge of Rs30 to Rs35 against the dollar is largely due to strategic administrative actions by the caretaker government.”
It’s essential to recall that on September 15th, the government had substantially increased both petrol and diesel prices, contrary to their earlier assurances of financial relief to the public. The petrol price had soared by Rs26.2 per litre, settling at Rs 331.38, while diesel had seen an increment of Rs 17.34, resulting in a new rate of Rs 329.18 per litre. Within a month, the interim government’s adjustments raised petrol and diesel prices by Rs 58 and Rs 56 per litre, respectively.