Petrol price slashed by Re1, diesel by Rs4 per litre
1. As per notification issued by Finance Division, new price of petrol will be Rs256.13 per litre, from Rs257.13
ISLAMABAD: The federal government has announced a reduction of Re1 per litre in petrol prices for the next fortnight, effective February 16, 2025, following a recent decline in global fuel markets.
According to a notification issued by the Finance Division on Saturday, the new petrol price will be Rs256.13 per litre, down from Rs257.13.
Similarly, the price of high-speed diesel (HSD) has been reduced by Rs4 per litre, bringing it down to Rs263.95 from Rs267.95.
“The Oil & Gas Regulatory Authority (OGRA) has reviewed and adjusted petroleum product prices in response to recent fluctuations in the international oil market,” the notification stated.
Other petroleum products have also seen price cuts. Kerosene oil is now priced at Rs171.65 per litre, reflecting a Rs3.20 decrease from Rs174.85. Likewise, light diesel oil has been reduced by Rs5.25, bringing it down to Rs155.81 per litre from Rs161.06.
Global oil prices declined amid hopes for a peace agreement between Russia and Ukraine, which could ease supply disruptions by lifting sanctions on Moscow. However, losses were limited due to a delay in immediate reciprocal tariffs by the United States. Analysts noted that global oil demand has risen to 103.4 million barrels per day (bpd), marking an increase of 1.4 million bpd compared to the previous year.
