Petrol price increased by Rs1.20, diesel reduced by 17 paisa per litre

The government has increased the price of petrol by Rs1.20 per litre while reducing the price of high-speed diesel by 17 paisa per litre, with the revised rates taking effect from October 15.

According to a press release issued by the Ministry of Energy’s Petroleum Division on Wednesday, the Oil and Gas Regulatory Authority (OGRA) has revised the ex-depot prices of petroleum products under the federal government’s pricing mechanism.

The price of petrol has been increased from Rs392.66 to Rs393.86 per litre, reflecting a rise of Rs1.20.

Meanwhile, the price of high-speed diesel has been reduced by 17 paisa per litre, bringing the new rate to Rs396.65 from the previous Rs396.82.

The Petroleum Division said the price adjustments were necessitated by changes in global market conditions, including Platts rates, premiums and incidental costs.

The revised petroleum prices will come into effect on Thursday, October 15.