Motorists heading to the pump on Tuesday will pay a little less. The federal government on Monday cut the price of petrol by Rs5.16 and high-speed diesel (HSD) by Rs7.69 per litre for October 20, The Express Tribune reported.
According to a Petroleum Division notification, petrol will sell at Rs381.14 per litre and HSD at Rs389.27 per litre on Tuesday.
A second straight cut
The revision follows a Rs3.93 per litre reduction in petrol for October 17 to 19, when diesel was left unchanged. This time the larger cut is on diesel, the fuel that powers most of the country's goods transport and farm machinery.
Pakistan now sets fuel prices daily rather than weekly. The government introduced the mechanism on July 17, as renewed tensions between the United States and Iran drove volatility in global oil markets and raised concerns about supplies.
Relief already in place
On September 13, Prime Minister Shehbaz Sharif announced a scheme offering Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc, covering an estimated 11.8 million beneficiaries, according to the paper.
Two- and three-wheeler users are entitled to relief on 20 litres a month, worth up to Rs2,000, while around one million owners of cars up to 800cc get relief on 30 litres, worth up to Rs3,000.
Fuel conservation measures reintroduced on September 17 also remain in force: shops and markets close by 9pm, marriage halls by 10pm and restaurants by 11pm, with takeaway and home delivery exempt.
Global pressure persists
The cut comes despite a jittery oil market. Brent crude rose 17 cents to $110.03 a barrel on Monday after Yemen's Houthis attacked a Yemeni military training camp and launched fresh strikes on Saudi energy, airport and military sites, The Express Tribune reported.
Because Pakistan imports most of its petroleum, disruptions in the Strait of Hormuz or the Red Sea feed quickly into domestic prices, and under daily pricing consumers can expect the numbers at the pump to keep moving.