ISLAMABAD: The government has reduced the price of petrol while increasing the rate of high-speed diesel (HSD) under its latest fuel price revision, according to details provided in a Petroleum Division notification.
Petrol will become cheaper by Rs3.19 per litre, bringing its new price to Rs376.06. In contrast, high-speed diesel will rise by Rs2.25 per litre to Rs398.07.
The revised rates are scheduled to take effect on Wednesday, October 28.
The adjustment comes a day after the government raised petrol by Rs1.54 per litre to Rs379.25 and diesel by Rs2.16 to Rs395.82.
Domestic petroleum prices are being adjusted under the government’s daily pricing mechanism, which takes account of international market movements, Platts rates, premiums and other applicable costs.
Meanwhile, international oil prices declined by around 1% in early Tuesday trading as diplomatic efforts involving Iran raised hopes of easing regional tensions. Brent crude futures fell to $114.81 per barrel, while US West Texas Intermediate crude dropped to $100.88.
However, renewed Houthi attacks on Saudi Arabia and continuing security concerns around key oil-shipping routes kept supply risks in focus. The outlook for international oil prices remains sensitive to developments in the Middle East.
