By In what could be a welcome relief for millions of Pakistanis, a new proposal is currently under review by Prime Minister Shehbaz Sharif to reduce fuel prices across the board. If approved, this move could significantly ease the burden of inflation, especially for daily commuters and transport-dependent sectors.
Proposed Fuel Price Reductions
The proposal suggests a reduction of Rs. 8.27 per litre in petrol prices, bringing the current rate down from Rs. 255.63 to Rs. 246.36. Similarly, high-speed diesel could see a drop of Rs. 6.96 per litre, lowering its cost from Rs. 258.64 to Rs. 251.68.
The relief doesn’t end there. Light diesel oil and kerosene oil are also set for a cut of Rs. 7.21 per litre, according to the draft proposal. These reductions aim to benefit not just private vehicle owners, but also industries, farmers, and the broader public who depend on these fuels for daily activities and business operations.
The Reality Behind Fuel Pricing
While the potential drop is great news, it’s important to understand why fuel prices remain high in the first place. A significant portion of what consumers pay at the pump is due to taxes and levies. Currently, over Rs. 100 per litre of petrol is made up of government-imposed charges, including a petroleum levy of Rs. 70 per litre—a historic high.
To give perspective, the ex-refinery price of petrol (before taxes and other costs) is just Rs. 148.51 per litre, while consumers pay Rs. 255.63. For diesel, the base cost is Rs. 154.06, compared to the retail price of Rs. 258.64.
A Step Towards Economic Relief
If the Prime Minister gives the go-ahead, these price cuts could offer much-needed financial relief for households and businesses alike. In a time where every rupee counts, even a small decrease in fuel prices can lead to lower transportation costs, reduced inflationary pressure, and overall economic stability.
Let’s hope the government takes swift action. For now, the nation waits—fuelled by hope.
