Petrol Drops To Rs389.14, Diesel To Rs424.04 Per Litre

Petrol prices have been reduced to Rs389.14 per litre, while high-speed diesel (HSD) will now cost Rs424.04 per litre, following the government’s latest downward revision in domestic fuel prices.

The price of motor spirit was cut by Rs1.65 per litre from the previous Rs390.79, whereas HSD became cheaper by Rs0.88, falling from Rs424.92 per litre.

According to a Petroleum Division notification issued on Friday, the revised ex-depot prices will remain effective from September 19 to September 21.

The latest reduction comes a day after a mixed fuel price adjustment, in which petrol was reduced by Rs0.43 per litre while HSD saw an increase of Rs3.47.

The Petroleum Division said the Oil and Gas Regulatory Authority (OGRA) determined the revised prices in line with the federal government’s petroleum pricing mechanism.

The ministry attributed the changes to movements in international Platts prices, petroleum premiums and other incidental costs, along with developments in global markets.

The latest cuts were announced as international crude prices eased on Friday, with concerns over possible disruptions to Saudi oil supplies showing some signs of improvement. However, uncertainty linked to the broader Middle East conflict continued to affect markets.

Brent crude futures declined by 88 cents, or 0.84%, to $103.94 per barrel by 1225 GMT, while US West Texas Intermediate (WTI) futures remained almost unchanged at $102.15 per barrel.

Brent was also on track for its first weekly decline in three weeks, falling 0.8% over the week.