Diesel Drops To Rs414.75, Petrol To Rs390.12 Per Litre

High-speed diesel (HSD) will now be priced at Rs414.75 per litre, while petrol will cost Rs390.12 per litre from September 24, following another reduction in domestic petroleum prices announced by the government.

The government reduced the price of diesel by Rs4.21 per litre from its previous ex-depot rate of Rs418.96. Petrol, meanwhile, was reduced by Rs1.93 per litre from Rs392.05.

The latest cut comes after both fuels also became cheaper in the previous review. HSD had been reduced by Rs3.12 per litre, while petrol saw a Rs1.70 reduction.

With the latest two revisions combined, diesel has become Rs7.33 per litre cheaper, while petrol has declined by Rs3.63 per litre.

The Petroleum Division announced the revised prices on Wednesday under the federal government's petroleum pricing mechanism.

According to the division, the adjustment was based on changes in international market conditions, including movements in Platts prices, petroleum premiums and other incidentals.

The domestic price reduction comes despite continued volatility in international crude markets. On Wednesday, Brent crude futures gained $1.84, or 1.85%, to reach $101.09 per barrel by 11:11 a.m. EDT. West Texas Intermediate (WTI) also increased by 69 cents, or 0.76%, to $91.21 per barrel.

Oil prices moved higher as traders continued to monitor renewed tensions between Iran and the United States.