ISLAMABAD: The federal government has cut petrol prices by Rs5.16 per litre and high-speed diesel by Rs7.69, effective October 20, amid fluctuations in the international oil market.
Under the revised rates, petrol will cost Rs381.14 per litre and high-speed diesel Rs389.27, according to a Petroleum Division notification.
The Oil and Gas Regulatory Authority (OGRA) has also begun publishing daily petroleum prices on its website to improve transparency and pass on changes in global oil prices to consumers more quickly.
Petroleum Minister Ali Pervaiz Malik said daily prices are based on a seven-day average of international market rates, in line with international practice.