The Pakistani government has announced a significant reduction in the price of high-speed diesel (HSD) while keeping the price of petrol stable for the next two weeks. This decision, which took effect on August 16, is based on recommendations from the Oil and Gas Regulatory Authority (OGRA) and other relevant ministries.
Key Price Changes
- High-Speed Diesel (HSD): The price of HSD has been reduced by a substantial Rs 12.84 per litre, lowering the cost from Rs 285.83 to Rs 272.99 per litre.
- Petrol: The price of petrol remains unchanged at Rs 264.61 per litre.
- Other Petroleum Products: The government also lowered the price of other petroleum products:
- Superior Kerosene Oil was cut by Rs 7.19, from Rs 185.46 to Rs 178.27 per litre.
- Light Diesel Oil saw a decrease of Rs 8.20, bringing its price down from Rs 170.36 to Rs 162.37 per litre.
Economic Implications
This move is expected to have a notable impact on the economy, particularly on the transportation and agricultural sectors, which are major consumers of HSD. A reduction in diesel prices can help lower the cost of logistics and farming, potentially easing inflationary pressures on goods and food prices. By keeping the price of petrol steady, the government appears to be balancing the needs of different sectors while managing the economic fallout of global oil price fluctuations.
