Khashif Talks Unlock Knowledge & Explore with Khashif Talks!
Pakistan Government Reduces Fuel Prices for October 2024
On Monday, the federal government of Pakistan announced a reduction in fuel prices that will come into effect starting October 1, 2024. This reduction brings relief to the general public and businesses alike, as fuel prices have a significant impact on transportation and inflation.
Petrol Price Cut
The price of petrol has been reduced by Rs2.07, bringing the rate down to Rs247.03 per litre. This reduction is a continuation of the government’s efforts to adjust fuel prices in line with international market trends and provide some relief amid rising living costs.
High-Speed Diesel (HSD) Price Reduced
The price of high-speed diesel (HSD) has been slashed by Rs3.40, taking the new rate to Rs246.29 per litre. HSD is crucial for the transport and agriculture sectors, making this reduction particularly important for those industries.
Other Fuel Price Reductions
In addition to petrol and HSD, the government has also reduced the prices of other fuels:
- Light Diesel Oil: Reduced by Rs1.03, now priced at Rs140.90 per litre.
- Kerosene Oil: Reduced by Rs3.57, bringing the new price to Rs154.90 per litre.
Previous Fuel Price Review
In the previous price review, the government had already made significant cuts. Petrol was reduced by Rs10 to Rs249.10 per litre, and high-speed diesel saw a reduction of Rs13.06, bringing its price to Rs249.69 per litre.
Economic Impact
This new reduction in fuel prices is expected to ease some of the economic pressures faced by the public. However, the extent to which this will curb inflation or improve cost-of-living conditions remains to be seen. The adjustment also shows the government’s responsiveness to fluctuating international oil prices, providing relief where possible.
