The federal government has announced a slight reduction in the price of petrol while increasing the price of high-speed diesel (HSD) under its newly implemented daily petroleum pricing mechanism.
According to an official notification, the price of petrol has been reduced by Rs 0.35 per litre, bringing the new rate to Rs 315.80 per litre. Meanwhile, the price of high-speed diesel (HSD) has been increased by Rs 5.71 per litre, with the revised price set at Rs 360.06 per litre.
The new fuel prices will come into effect from July 21, as stated in the notification. This revision marks the implementation of the government’s daily fuel price determination mechanism, replacing the previous periodic review system. Under the new framework, petroleum product prices will be adjusted more frequently to reflect changes in international oil markets and other relevant pricing factors.
The government states that the revised pricing mechanism is aimed at making fuel prices more responsive to market conditions. Motorists will see a marginal reduction in petrol prices, while the transport and industrial sectors that rely heavily on diesel are expected to be impacted by the increase in HSD rates.
