Pakistan reduces petrol and diesel prices amid global energy volatility

Pakistan has implemented consecutive reductions in fuel prices. Following a decrease on September 28, the Petroleum Division and the Oil and Gas Regulatory Authority (OGRA) announced further cuts for September 30. Petrol prices fell by Rs 1.49 to Rs 387.54 per litre, while high-speed diesel (HSD) dropped by Rs 2.73 to Rs 402.24 per litre.

Despite these downward adjustments, fuel costs remain significantly higher than pre-war levels. Since the onset of the US-Iran conflict in February, petrol prices have risen approximately 46 percent and diesel by 44 percent. The volatility is attributed to disruptions in the Strait of Hormuz and changes in international Platts rates.

In related market news, gold prices in Pakistan saw fluctuations, with 24K gold per tola dropping slightly to Rs 437,336 on September 30. Meanwhile, the US Dollar remained steady in the open market at Rs 277.85.