ISLAMABAD (The Thursday Times) — Pakistan cut the price of petrol by Rs5.45 a litre to Rs369.06 and cut diesel by Rs3.68 a litre to Rs391.52, with the new rates taking effect on Wednesday, November 4, according to the Oil and Gas Regulatory Authority.
It is the second change in two days. The last revision cut petrol by Rs3.40 to Rs374.51 and diesel by Rs7.76 to Rs395.20. Together, the two moves take Rs8.85 a litre off petrol and Rs11.44 a litre off diesel.
The cuts are the “better news” that Petroleum Minister Ali Pervaiz Malik hinted at earlier on Tuesday, after international markets closed lower. Diesel, the fuel of trucks, buses and farm machinery, stays about Rs22 a litre dearer than petrol.
The change comes as the government talks to Jamaat-e-Islami about the petroleum levy and fuel relief for farmers and public transport. The party says the talks are in their final stage, but the government has made no announcement on the levy.
Correction: An earlier version of this story said diesel had risen by Rs3.68 to Rs398.88 a litre. Diesel was cut by Rs3.68 to Rs391.52.
