Lead

The government reduced the prices of petrol and high-speed diesel (HSD) by 12 paisas and 66 paisas per litre, respectively, effective from August 1 to August 3, according to a notification from the Petroleum Division. Following the revision, petrol will retail at Rs336.03 per litre, while HSD will cost Rs392.38 per litre.

Despite the reduction, the government continues to levy Rs110 per litre in taxes and duties on petrol and Rs96 per litre on diesel, as reported by Dawn.

Coverage Comparison

Dawn, the only outlet whose coverage was examined, reported the price adjustments and the context of the broader energy price landscape. The report highlights that while petrol and diesel saw modest cuts, the cost of regasified liquefied natural gas (RLNG) surged dramatically.

Key Claims

  • The government reduced petrol and HSD prices by 12 and 66 paisas per litre, respectively.
  • Petrol and HSD now retail at Rs336.03 and Rs392.38 per litre.
  • Taxes and duties on petrol and diesel remain at Rs110 and Rs96 per litre.
  • Ogra notified a record 32% increase in RLNG prices for August, with rates set at $25.83 per mmBtu for SNGPL and $25.09 per mmBtu for SSGCL.
  • The retail price of RLNG has been set at Rs7,204 per mmBtu, based on five imported spot market cargoes, as no shipments could be secured from Qatar due to the US-Iran war.
  • This marks the single biggest jump in RLNG rates in its decade-long history, with the price now about 148% higher than February's $10.45 per mmBtu (Rs2,916).
  • The higher RLNG costs are expected to increase fuel costs for power generation; in May, the fuel cost for RLNG-based power generation was Rs31 per unit, compared with Rs13.72 per unit in April.
  • Diesel prices have fallen from a peak of Rs520.35 on April 3, while petrol peaked at Rs458.41 on the same day, having risen from Rs281 and Rs266 per litre respectively amid the US-Iran war.
  • Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be set on a daily basis due to fluctuations in international market prices following renewed hostilities.
No alternative perspectives were reported in the available coverage.