The federal government has increased the price of petrol while reducing the price of high-speed diesel (HSD) under Pakistan’s daily petroleum pricing mechanism.

According to a notification issued by the Oil and Gas Regulatory Authority (OGRA) after federal government approval, the price of petrol has been increased by Rs4.45 per litre, taking the new ex-depot price to Rs333.01 per litre.

Meanwhile, the price of high-speed diesel has been reduced by Rs2.00 per litre, lowering its new ex-depot price to Rs383.86 per litre.

The revised prices will take effect from midnight (August 6) and remain in force until the next review under the government’s daily fuel pricing mechanism.

The latest revision follows a reduction announced a day earlier, when petrol prices were cut by Rs3.39 per litre and HSD by Rs4.07 per litre.

On Monday, the government reduced petrol prices by Rs4.08 per litre and HSD by Rs2.45 per litre. On August 1, petrol became cheaper by 12 paise per litre, while HSD prices were reduced by 66 paise per litre.

Despite Thursday’s increase, petrol prices are still Rs3.13 per litre lower than on August 1, while high-speed diesel has declined by a cumulative Rs9.18 per litre over the same period.

Pakistan replaced its weekly petroleum pricing system with a daily mechanism earlier this year.

Under the revised framework, OGRA calculates ex-depot prices using a rolling seven-day average of international oil prices, exchange rate movements and other cost components before submitting recommendations to the federal government for approval.

Petroleum Minister Ali Pervaiz Malik has said the new pricing mechanism enables domestic fuel prices to reflect changes in global markets more quickly while improving transparency in petroleum pricing.