The federal government has slightly reduced the price of petrol while increasing the price of high-speed diesel (HSD) under Pakistan’s new daily fuel pricing mechanism.

According to a notification issued by the Petroleum Division, the price of petrol has been reduced by Rs0.35 per litre to Rs315.80 per litre.

In contrast, the price of high-speed diesel has been increased by Rs5.71 per litre, taking the new rate to Rs360.06 per litre.

The Petroleum Division said the revised prices were determined on the recommendation of the Oil and Gas Regulatory Authority (OGRA) and will take effect from 12:00 a.m. on July 21.

The latest adjustment comes after the government introduced daily reviews of petroleum prices in place of the previous weekly mechanism.

Federal Minister for Petroleum Ali Pervaiz Malik on Friday announced the shift to daily pricing, saying the move was aimed at responding more quickly to sharp fluctuations in international oil markets.

On Friday, the government announced a three-day revision in fuel prices, raising the price of petrol by Rs5.44 per litre to Rs316.15 and increasing high-speed diesel by Rs31.05 per litre to Rs354.35, with those rates remaining in effect from July 18 to July 20.

The three-day adjustment had followed another increase of more than Rs13 per litre for both petrol and diesel during the July 11-17 pricing period, as global crude oil prices surged amid heightened geopolitical tensions in the Middle East.