The federal government has announced another reduction in petrol and high-speed diesel prices for the next three days. The latest rates were issued following an update from the Oil and Gas Regulatory Authority (OGRA).
Petrol prices have been reduced by Rs0.58 per litre. The new petrol price stands at Rs342.02 per litre. High-speed diesel has also become cheaper by Rs0.17 per litre.
Following the latest revision, the price of high-speed diesel now stands at Rs371.44 per litre. The reductions provide a small relief to consumers after fuel prices recorded significant increases under the daily pricing system.
Petrol prices were also reduced on Thursday. The price fell by Rs0.50 per litre to Rs342.60 per litre. Diesel prices were cut by Rs0.19 per litre and stood at Rs371.61 per litre.
The latest reduction means both major petroleum products have become slightly cheaper for consumers. However, the overall increase since the introduction of daily fuel price revisions remains substantial.
Since the daily fuel pricing system began, petrol has increased by Rs30.72 per litre. High-speed diesel has recorded an even larger increase of Rs41.93 per litre over the same period.
The latest rates reflect the frequent changes being made under the new fuel pricing mechanism. Prices can now be adjusted more regularly based on movements in international oil prices and other relevant factors.
The daily pricing system has resulted in several changes in petrol and diesel rates throughout August. Consumers have witnessed both sharp increases and smaller reductions during the month.
On August 25, petrol was priced at Rs343.10 per litre. Diesel was available at Rs371.80 per litre. The following day was a public holiday, with no new rates listed.
On August 24, petrol stood at Rs341.98 per litre, while diesel was priced at Rs370.69 per litre. Earlier in the month, fuel prices had also recorded several increases.
Petrol was priced at Rs337.51 per litre on August 19 and 20. It then increased to Rs341.59 per litre on August 21 before reaching Rs342.60 per litre on August 27.
Diesel also recorded significant fluctuations during the same period. It increased from Rs363.06 per litre on August 19 to Rs368.29 per litre on August 21.
The fuel price changes have increased uncertainty for consumers and businesses that depend heavily on petroleum products. Transport operators and other fuel-dependent sectors closely monitor these revisions because changes in fuel prices can affect operating costs.
The latest reductions are therefore expected to provide limited short-term relief. However, the overall fuel price level remains considerably higher than it was before the introduction of daily revisions.
The government and OGRA are continuing to monitor market conditions. Further changes in petrol and diesel prices could be announced as international and domestic pricing factors change.
For now, petrol will be available at Rs342.02 per litre, while high-speed diesel will cost Rs371.44 per litre. The latest rates will remain applicable for the next three days.
Also read: Petrol, Diesel Prices Remain Unchanged Until Monday
