ISLAMABAD: The government on Tuesday increased the price of petrol by Rs1.19 per litre while reducing the price of high-speed diesel (HSD) by Rs1.91 per litre, effective October 7.
Following the adjustment, petrol will be available at Rs394.83 per litre, up from Rs393.64, while the price of HSD has been lowered to Rs395.85 per litre from Rs397.76.
According to a Petroleum Division press release, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices under the existing petroleum pricing mechanism.
The Petroleum Division attributed the changes to fluctuations in international oil prices and related market factors. The revision took into account changes in Platts rates, premiums and other incidentals that form part of the petroleum pricing formula.
The latest adjustment means motorists using petrol will face a modest increase in fuel costs, while consumers and businesses relying on diesel will receive some relief. Diesel prices have a direct bearing on transport, agriculture and other sectors because of the widespread use of HSD in commercial vehicles and machinery.