The government has announced fresh fuel prices under its new daily pricing mechanism, with the revised rates taking effect from Monday night.
Petrol prices have been reduced by Rs0.35 per litre, bringing the new price to Rs315.80 per litre. Meanwhile, the price of high-speed diesel (HSD) has gone up by Rs5.71 per litre and will now be sold at Rs360.06 per litre.
The new prices were confirmed through an official notification issued by the Oil and Gas Regulatory Authority (OGRA).
At the same time, uncertainty in global oil markets has increased following the resumption of the US war against Iran. At the time of writing, Brent crude was trading at around $90 per barrel.
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In the previous revision, petrol prices were increased by Rs5.44 per litre to Rs316.15 per litre, while high-speed diesel became costlier by Rs31.05 per litre, taking its price to Rs354.35 per litre.