Islamabad (Web Desk): The government has revised petroleum prices, increasing the price of petrol while reducing the rate of high-speed diesel. The Petroleum Division issued an official notification announcing the new prices.
According to the notification, the price of petrol has been increased by Rs4.45 per litre, taking the new rate to Rs333.01 per litre.
Meanwhile, the price of high-speed diesel has been reduced by Rs2 per litre and will now be sold at Rs383.86 per litre.
The revised prices came into effect on August 6.
The latest adjustment follows three consecutive reductions in the prices of both petrol and diesel. However, under the new revision, petrol has become more expensive while diesel has been made cheaper.
The government had earlier decided to review petroleum prices on a daily basis in view of the evolving regional situation.
Under this mechanism, the Oil and Gas Regulatory Authority (OGRA) announces daily fuel prices without requiring prior approval from the prime minister or the federal government, while the previously notified prices remain in force on Saturdays and Sundays.
It is worth noting that the prices of petrol and diesel were reduced on July 31, August 3 and August 4 before the latest revision.