ISLAMABAD: The federal government has announced a reduction in the prices of key petroleum products, effective for the first half of December (December 1-15). High-Speed Diesel (HSD) saw a significant cut, decreasing by Rs 4.79 per litre. Meanwhile, the price of petrol was reduced by Rs 2 per litre.
The price of petrol has been set at Rs263.45 per litre for the next fifteen day, whereas, the price of HSD has been decreased from Rs 265.45 to Rs 263.45 per litre.
The government has adjusted the price of HSD in IFEM by reducing from Rs 6.13 per litre to Rs 4.31 per litre. Petrol has also seen reduction in IFEM from Rs 8.20 to Rs 8.15 per litre.
Govt expected to slash petrol, HSD prices
The reductions come as international crude and product prices fall with Brent crude averaged USD63.43 per barrel, down 2.5 percent from the previous cycle. Arab Light recorded a 2.2 percent decrease to USD65.61 per barrel. Petrol prices in the international market fell 2.7 percent to USD74.32 per barrel, and diesel dropped 3.8 percent to USD88.76, according to a report.
Despite the zero General Sales Tax (GST) on these products, the government continues to levy significant charges, collecting Rs 79.50 per litre on HSD and Rs 80.52 per litre on petrol through the petrol levy and climate support levy.
Copyright Business Recorder, 2025
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