The federal government has reduced petrol and high-speed diesel prices by Rs 0.14 and Rs 1.89 per litre, respectively, following changes in international oil prices.
After the reduction, petrol will be available at Rs 387.40 per litre, while the price of high-speed diesel has been set at Rs 400.35 per litre.
According to a Petroleum Division notification, the revised prices will take effect from October 1. The government said the adjustment reflects movements in international oil prices.
Ogra Begins Daily Petroleum Price Updates
Meanwhile, the Oil and Gas Regulatory Authority has started publishing daily petroleum prices on its website. The move aims to improve transparency and allow international price changes to reach consumers more quickly.
The new system will provide consumers with regular updates on petroleum prices. It also seeks to make the process of monitoring changes in global oil markets more transparent.
Petroleum Prices Based On Seven-Day Average
Petroleum Minister Ali Pervaiz Malik said the daily prices are calculated using a seven-day average of international market prices.
He said the approach follows international practices for determining petroleum prices. The latest reduction will therefore bring a marginal decline in petrol prices, while diesel users will see a larger decrease from October 1.
The revised rates will remain applicable from the start of the new month, following the government’s latest review of international petroleum prices.
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