Petrol Drops To Rs387.54 After Fresh Price Cut

The federal government has announced another reduction in petrol prices, cutting the rate by Rs1.49 to Rs387.54 per litre, while high-speed diesel (HSD) has been lowered by Rs2.73 to Rs402.24 per litre, with the revised rates taking effect from September 30.

According to the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) adjusted the prices in accordance with the government’s existing petroleum pricing formula.

The fresh reduction comes just a day after petrol was cut by Rs2.27 and HSD by Rs3.56, bringing their respective prices down to Rs389.03 and Rs404.97 per litre.

The Petroleum Division said the latest changes were driven by movements in international Platts prices, along with variations in premiums and other related costs.

Meanwhile, international crude prices also declined on Tuesday. Brent crude dropped $1.96, or 1.86%, to $103.32 per barrel, while US West Texas Intermediate fell $1.95, or 2.11%, to $90.65.