Govt cuts petrol price by Rs0.58, HSD by Rs0.17

Key Takeaways

• Pakistan cut petrol by Rs0.58 and high-speed diesel (HSD) by Rs0.17 per litre from Aug 29, 2026.
• Petrol will retail at Rs342.02 per litre while HSD will cost Rs371.44 per litre.
• The government continues to levy Rs114 per litre in taxes on petrol and Rs100 per litre on diesel.
• Updated prices apply from Aug 29 to Aug 31, 2026.

The government on Friday reduced the price of petrol by Rs0.58 per litre and high-speed diesel (HSD) by Rs0.17 per litre.

Following the revision, petrol will retail at Rs342.02 per litre while HSD will cost Rs371.44 per litre. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.

According to a Petroleum Division notification, the new prices will be applicable from Aug 29 to Aug 31.

The price of HSD has come down from a peak of Rs520.35 recorded on April 3. Its price had started rising from Rs281 per litre after the US-Iran war broke out on February 28.

The petrol price had peaked at Rs458.41 on April 3 after beginning its upward trajectory from Rs266 in the first week of March.

Earlier, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be fixed on a daily basis due to fluctuations in international market prices following renewed hostilities between Iran and the US.

The government had been announcing weekly revisions to fuel prices since early March, alongside measures for the conservation of fuel amid possible oil supply disruptions due to the ongoing conflict in the Middle East. The federal government in April also announced targeted relief measures to provide subsidised fuel.

The petroleum minister stated that the cabinet and the prime minister had decided to give the Oil and Gas Regulatory Authority (Ogra) the responsibility of deciding fuel prices on a daily basis based on international market trends.

Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers, and changes in its price affect the middle and lower-middle classes.

Similarly, changes in diesel prices also impact the public at large, as it is mainly used in the heavy transport sector, power plants and large generators.

Petrol and high-speed diesel (HSD) are the major revenue earners, with monthly sales of about 700,000 to 800,000 tonnes, compared to just 10,000 tonnes of monthly demand for kerosene.

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Frequently Asked Questions

What is Govt cuts petrol price by Rs0.58, HSD by?

Pakistan reduced the price of petrol by Rs0.58 per litre and high-speed diesel (HSD) by Rs0.17 per litre with effect from Aug 29, 2026, based on OGRA's revised official ex-depot prices. Petrol now retails at Rs342.02 per litre and HSD at Rs371.44 per litre, while the government continues to levy significant taxes and duties on both fuels.

Originally reported by Dawn News. Enhanced and optimized for search by TechVeb.