ISLAMABAD: The federal government has reduced petrol and diesel prices, providing some relief to consumers amid continued volatility in global oil markets.
According to a notification issued by the Petroleum Division, the price of petrol has been cut by Rs3.40 per litre, while high-speed diesel has become cheaper by Rs7.76 per litre.
Following the reduction, petrol will now cost Rs374.51 per litre, down from Rs377.91, while the new price of diesel has been set at Rs395.20 per litre, compared with the previous rate of Rs402.96.
The revised prices will take effect from midnight on November 2 and remain applicable on November 3, the notification said.
The government has shifted to daily adjustments in petroleum prices amid the ongoing Middle East crisis and volatility in international oil markets. Prices remain unchanged on Saturdays and Sundays.
The latest reduction is expected to offer limited relief to motorists and businesses, particularly those dependent on diesel-powered transport and machinery.
