Petrol Cut by Rs3.63 Per Litre for October 16, Diesel Raised by 31 Paisa

Motorists will pay a little less at the pump on Friday. The government on Thursday cut the price of petrol by Rs3.63 per litre, fixing it at Rs390.23 for October 16, while high-speed diesel went the other way — up 31 paisa to Rs396.96 per litre, according to a Petroleum Division notification.

How it compares with a day earlier

Only on Wednesday, petrol had been priced at Rs393.86 and diesel at Rs396.65 per litre. The cut gives petrol users a small breather, but there is no relief for transport and farm machinery that run on diesel. Even a modest rise in the diesel rate tends to feed into freight charges and, eventually, the cost of moving goods around the country.

Prices are now set every day

Since mid-July, fuel prices in Pakistan have been reviewed daily rather than weekly. Officials say the change was made because crude and refined product prices in the world market have been swinging sharply, and a daily mechanism passes those movements through to local pumps faster.

Taxes still make up a large slice of the price — roughly Rs114 per litre on petrol and Rs100 on diesel. In September, the prime minister also announced a relief scheme for motorcycle, rickshaw and small-car users of up to 800cc, aimed at shielding lower-income households from the worst of high fuel costs.