Petrol price cut by Rs1, diesel up Rs3.77 per litre

The federal government has reduced the price of petrol by Rs1 per litre while increasing the price of high-speed diesel (HSD) by Rs3.77 per litre, reflecting changes in international oil prices amid continued tensions in the Persian Gulf.

According to a notification issued by the Petroleum Division, the new price of petrol has been set at Rs334.18 per litre, while HSD will now cost Rs386.83 per litre. The revised prices will take effect from July 28.

The government is currently collecting Rs110 per litre in taxes and duties on petrol and Rs96 per litre on diesel.

Despite the latest increase, diesel prices remain below their record high of Rs520.35 per litre recorded on April 3. Petrol had also reached a peak of Rs458.41 per litre on the same date after surging during the US-Iran conflict earlier this year.