ISLAMABAD (Dunya News) – The federal government has reduced petrol prices by Rs2.71 per litre while increasing the price of high-speed diesel by 31 paisa under the latest fuel price revision.
The new rates, effective from Thursday (October 22), bring some relief to petrol users, although diesel consumers will face a slight increase in their fuel expenses.
Petrol is now priced at Rs379.31 per litre, down Rs2.71 from the previous rate of Rs382.02.
In contrast, high-speed diesel (HSD) has become 31 paisa more expensive, taking its price to Rs390.11 per litre, compared with Rs389.80 previously.
The latest adjustment means motorists using petrol will pay less at filling stations, while transport operators and other diesel users will face a marginal increase in fuel costs. Diesel is widely used by heavy transport vehicles, buses, trucks and agricultural machinery, making its price an important factor in transport and production expenses.
The latest revision comes under the government's daily petroleum pricing mechanism, introduced to reflect changes in international oil markets more frequently.
Under the framework, the Oil and Gas Regulatory Authority (OGRA) calculates fuel prices using average international market rates recorded over the preceding seven days. The regulator can announce daily ex-depot prices for petrol and high-speed diesel without seeking separate approval from the prime minister or federal government for each adjustment.