The petrol price in Pakistan has been cut by Rs3.63 per litre to Rs390.23 for Friday, October 16, while high-speed diesel has gone up by 31 paisas to Rs396.96 per litre, the Petroleum Division announced.
New petrol price and diesel rates
Under the revision made by the Oil and Gas Regulatory Authority (OGRA) under the federal pricing mechanism, petrol now costs Rs390.23 per litre, down from Rs393.86, and high-speed diesel costs Rs396.96 per litre, up from Rs396.65.
The change comes a day after the previous revision, when petrol rose by Rs1.20 to Rs393.86 per litre and diesel fell by 17 paisas to Rs396.65.
Why fuel prices changed
The Petroleum Division said the adjustment reflects global developments, including changes in Platts rates, premiums and other incidental charges.
In international markets, Brent crude fell about 1.1% to $104.91 per barrel on Thursday, while US benchmark WTI rose 0.3% to $95.40. Prospects of eased US restrictions on Russian oil tankers weighed on prices, while attacks on Middle East shipping and strikes on Russian energy facilities limited the fall.
