Petrol price drops by Rs3.93, diesel unchanged

Summary

• The frequent changes reflect the government’s daily petroleum pricing mechanism, introduced in July to respond to fluctuations in international oil markets.
• Tensions in the Middle East, concerns over oil supplies and disruptions to major shipping routes continue to influence international crude oil prices.
• With international oil prices remaining volatile, further changes in domestic petroleum rates will depend on developments in global markets, supply conditions and the government’s daily pricing decisions.

AI Generated Summary

The federal government has reduced the price of petrol by Rs3.93 per litre while keeping the price of high-speed diesel (HSD) unchanged for three days, from October 17 to October 19.

Under the latest revision, petrol will be available at Rs386.30 per litre, while diesel will continue to cost Rs396.96 per litre. The revised prices were announced through a notification issued by the Petroleum Division.

The latest reduction follows another cut announced a day earlier, when petrol prices were lowered by Rs3.63 per litre. However, diesel prices were increased by 31 paisas per litre for October 16. The frequent changes reflect the government’s daily petroleum pricing mechanism, introduced in July to respond to fluctuations in international oil markets.