Shafaqna Pakistan: The government has announced a reduction in petroleum prices, according to a notification issued by the Petroleum Division.
Under the revised pricing, the rate of high-speed diesel (HSD) has been lowered by Rs1.50 per litre, bringing its new price to Rs382.36 per litre.
The price of petrol has also been reduced by Rs3.19 per litre, with the new rate set at Rs329.82 per litre.
According to the Petroleum Division, the revised prices were determined by the Oil and Gas Regulatory Authority (OGRA) and came into effect from midnight. The new rates will remain applicable until the next scheduled fuel price review.
The latest notification comes a day after the government had announced Rs4.45 per litre increase in the price of petrol and Rs2 per litre reduction in the price of high-speed diesel.
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
