ISLAMABAD (Dunya News) – The federal government has announced another reduction in petroleum prices, offering fresh relief to consumers by lowering the rates of both petrol and high-speed diesel.
The revised prices, approved on the recommendations of the Oil and Gas Regulatory Authority (OGRA), will come into effect from August 5 (Wednesday).
According to a press release issued by the Ministry of Energy (Petroleum Division), the latest revision has been made under the government's petroleum pricing mechanism following a review of ex-depot prices.
The price of Motor Spirit (MS), commonly known as petrol, has been reduced by Rs3.39 per litre. With the latest cut, the ex-depot price of petrol has fallen from Rs331.95 per litre to Rs328.56 per litre, providing further relief to private motorists, commuters and businesses that rely on petrol-powered vehicles. The reduction follows the previous review, when petrol prices were also lowered, continuing a downward trend in domestic fuel rates.
The government has also reduced the price of HSD by Rs4.07 per litre, bringing the new ex-depot price down to Rs385.86 per litre from the previous Rs389.93 per litre. Diesel is widely used in the transport, agriculture and industrial sectors, meaning the latest reduction could help ease operating costs for commercial transporters and farmers.
The Ministry of Energy said the revised prices were determined by OGRA in accordance with the federal government's petroleum pricing mechanism.