Petrol has been reduced by Rs0.75 per litre, bringing the new price to Rs335.06 per litre.
ISLAMABAD: The federal government has slightly reduced the price of petrol while increasing the price of high-speed diesel, according to a notification issued by the Ministry of Petroleum.
Under the revised prices, petrol has been reduced by Rs0.75 per litre, bringing the new price to Rs335.06 per litre.
Meanwhile, the price of high-speed diesel has been increased by Rs2.34 per litre, taking the new rate to Rs390.62 per litre.
The revised fuel prices were announced through an official notification issued by the Ministry of Petroleum and will take effect from the notified date.
According to the notification, the revised petrol and diesel prices will remain effective for July 30.
Meanwhile, Oil prices surged as escalating tensions in the Middle East raised concerns over global energy supplies, with crude gaining more than $3 a barrel after US-Iran military developments and a decline in US oil inventories.
Brent crude futures rose $3.30, or 3.9%, to $87.39 a barrel by 0300 GMT, while US West Texas Intermediate (WTI) crude increased $3.05, or 3.8%, to $82.31 a barrel.
More read, Government raises petrol, diesel prices again
The increase followed the US military’s announcement that it had intercepted ballistic missiles launched by Iran toward US forces in the Middle East. Washington described the incident as an attempted surprise attack by Tehran, while Iran’s Islamic Revolutionary Guard Corps said it had targeted a US air base and Central Command facility in Jordan.
