The federal government has reduced the price of petrol by 94 paisa per litre while increasing the price of high-speed diesel (HSD) by 54 paisa, according to a notification issued on Wednesday.

According to a notification issued by the Ministry of Energy (Petroleum Division), the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products for Thursday, August 13, under the government’s petroleum pricing mechanism.

Following the latest adjustment, petrol will now cost Rs324.98 per litre, down from Rs325.92, while HSD has risen to Rs382.79 per litre from Rs382.25.

The latest revision comes a day after the government reduced petrol by Rs1.70 per litre and increased HSD by Rs1.39 per litre.

Before Tuesday’s adjustment, petrol was priced at Rs327.62 per litre and HSD at Rs380.86 per litre.

The government has made several changes to petroleum prices in recent weeks under the daily pricing mechanism.

On August 8, petrol was reduced by Rs2.20 per litre to Rs327.62, while HSD fell by Rs1.50 to Rs380.86 for the next three days.

Before that, petrol had been increased by Rs4.45 to Rs333.01 per litre, while HSD was reduced by Rs2 to Rs383.86.

On August 4, petrol and HSD prices were reduced by Rs3.39 and Rs4.07 per litre, respectively. On August 3, the government cut petrol by Rs4.08 and HSD by Rs2.45 per litre.

Earlier, on August 1, petrol became cheaper by 12 paisa per litre and HSD by 66 paisa.

Pakistan shifted from a weekly petroleum pricing system to a daily mechanism earlier this year.

Under the new framework, the Oil and Gas Regulatory Authority (OGRA) calculates ex-depot prices using a rolling seven-day average of international oil prices, exchange rate movements and other cost components before submitting its recommendations to the federal government for approval.

The daily pricing mechanism is designed to allow domestic fuel prices to respond more quickly to changes in international oil markets and other cost factors.