Shafaqna Pakistan: The federal government on Wednesday revised petroleum prices, increasing the rate of petrol while reducing the price of high-speed diesel (HSD), according to a notification issued by the Petroleum Division.
Under the latest adjustment, the price of HSD has been cut by Rs2 per litre, bringing the new rate to Rs385.86 per litre.
Meanwhile, the price of petrol has been increased by Rs4.45 per litre, raising the new rate to Rs333.10 per litre.
The Petroleum Division said the revised prices were determined by the Oil and Gas Regulatory Authority (OGRA) and took effect immediately.
It should be noted that on Tuesday, the government reduced the price of petrol by Rs 3.39 per liter, while the price of high-speed diesel was reduced by Rs 4.7 per litre.
The Oil and Gas Regulatory Authority (OGRA) updates petroleum products prices on a daily basis on its website to ensure transparency and allow the immediate impact of international price fluctuations to be passed on to consumers.
The daily pricing is based on a seven-day weekly average of international market prices to align with international standards, according to Petroleum Minister Ali Pervaiz Malik.
Source: Dunya News
