ISLAMABAD: The federal government has announced another adjustment in petroleum prices, making petrol more expensive while providing relief to high-speed diesel (HSD) consumers. Under the latest revision, petrol has been increased by Rs1.19 per litre, taking the new price to Rs394.83 per litre. In contrast, high-speed diesel has been reduced by Rs1.91 per litre and will now cost Rs395.85 per litre.
The revised rates will take effect from Wednesday, October 7, according to a notification issued by the Petroleum Division. The Oil and Gas Regulatory Authority (OGRA) calculated the new ex-depot rates under the government’s petroleum pricing mechanism. The latest adjustment reflects movements in international petroleum markets as well as changes in Platts rates, premiums and other applicable costs.
Global crude prices moved lower on Tuesday as concerns over supplies from the Middle East eased. Increased regional exports and planned releases from emergency stockpiles also helped reduce pressure on the international oil market. Pakistan has been making frequent adjustments to domestic fuel prices amid continued volatility in global energy markets.
