According to the latest notification, the new prices will take effect from midnight.

The ex-depot price of petrol has been reduced to Rs335.06 per litre from Rs335.81, while high-speed diesel has been increased to Rs390.62 per litre from Rs388.38.

The latest revision comes a day after the government increased petrol prices by Rs1.63 per litre and diesel prices by Rs1.55 per litre.

Despite Wednesday’s marginal cut, petrol prices have still risen by Rs24.25 per litre over the past 13 days.

Diesel prices, meanwhile, have surged by Rs67.32 per litre during the same period, reflecting the sharp upward trend under the new pricing regime.

Pakistan shifted from a weekly to a daily petroleum pricing mechanism last week, under which the Oil and Gas Regulatory Authority (OGRA) determines ex-depot prices every day using a rolling seven-day average of international oil prices.

Petroleum Minister Ali Pervaiz Malik had announced on July 17 that OGRA would update petroleum product prices daily and publish the revised rates on its website.

Officials say the daily pricing mechanism enables domestic fuel prices to respond more quickly to fluctuations in global oil markets while improving transparency in the pricing process.

High-speed diesel is widely used by the transport, agriculture and industrial sectors, making its price a key driver of freight costs and inflation.

Petrol prices, meanwhile, directly affect private motorists, public transport operators and commuters across the country.