The federal government has announced a cut in fuel prices on New Year’s Eve, bringing relief to consumers.

Petrol has been made cheaper by Rs10.28 per litre, while the price of high-speed diesel has been reduced by Rs8.57 per litre.

The reduction was made on the basis of recommendations made by the Oil and Gas Regulatory Authority (OGRA).

After the latest cut, petrol will now cost Rs253.17 per litre, down from its earlier price of Rs263.45.

Similarly, high-speed diesel price has been set at Rs257.08 per litre, down from the previous rate of Rs265.65.

The new prices of petroleum products came into effect from Wednesday midnight and will remain applicable until January 15, 2026.