The federal government has reduced the price of petrol by Re1 per litre while increasing the price of high-speed diesel (HSD) by Rs3.37 per litre under Pakistan’s daily petroleum pricing mechanism.

According to the latest notification, the ex-depot price of petrol has been lowered from Rs335.18 to Rs334.18 per litre, while the price of high-speed diesel has increased from Rs383.46 to Rs386.83 per litre.

The revised prices will take effect from Tuesday under the government’s daily fuel price adjustment system.

The latest revision comes after the government kept petroleum prices unchanged on Sunday and Monday due to the non-publication of Platts oil price assessments over the weekend.

In a notification issued earlier, the Petroleum Division said the prices announced on July 25 would remain in force for July 26 and 27 because international benchmark prices were unavailable during the weekend.

The government had previously increased petrol by Rs3.66 per litre and high-speed diesel by Rs4.80 per litre, extending a series of fuel price increases following the introduction of the new pricing mechanism.

Last week, Pakistan replaced its weekly petroleum pricing regime with a daily pricing mechanism, authorising the Oil and Gas Regulatory Authority (OGRA) to determine ex-depot petrol and diesel prices using a rolling seven-day average of international oil prices.

Officials say the new system allows 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 in the transport, agriculture and industrial sectors, while changes in petrol prices have a direct impact on private motorists, public transport operators and commuters across the country.