Govt cuts petrol price, raises high-speed diesel rate

WEB DESK: The federal government has revised petroleum prices, lowering the price of petrol while increasing the rate of high-speed diesel in its updated review.

According to a notification issued by the Petroleum Division, the price of petrol has been reduced by Rs0.75 per litre, bringing the new rate to Rs335.06 per litre.

In contrast, the price of high-speed diesel (HSD) has been increased by Rs2.24 per litre, with the new rate set at Rs390.62 per litre.

The revised prices will come into effect from July 30, with implementation starting at 12 am.

The reduction in petrol prices offers modest relief to motorists, while the increase in diesel prices is expected to raise transportation and agricultural costs.

Analysts say the hike in diesel prices could have a wider impact on inflation, as the fuel is extensively used by freight transport, public transport operators and the agricultural sector. Higher transportation costs may also push up the prices of essential commodities.

The revised fuel prices will take effect from midnight and remain in force until tomorrow.