Islamabad (Web Desk):The federal government has reduced the price of petrol by Rs7.54 for the upcoming fortnight, effective from August 1, according to the Finance Division's announcement on Thursday.
In a notification, the Finance Division stated that after the price adjustment, the new petrol rate has been set at Rs272.15 per litre .
Meanwhile, the price of diesel has been increased by Rs1.48 per litre, bringing its price to Rs285.83 per litre, the notification added.
The decision was made after reviewing current international market trends and in line with recommendations from the Oil and Gas Regulatory Authority (OGRA) and relevant ministries, a statement from the Finance Division said.
Petrol is primarily used to power small vehicles, rickshaws, and motorcycles, which makes price hikes particularly challenging for middle- and lower-income households that rely on it for daily commuting.
In contrast, high-speed diesel is widely used in the transport sector, particularly in trucks, buses, trains, and agricultural machinery like tractors and tube wells. Its price is considered inflationary, as the increased cost of diesel directly impacts the prices of essential items like vegetables and other food products.