ISLAMABAD – Inflation-weary Pakistanis continue to get back to back reliefs as Oil and Gas Regulatory Authority (OGRA) announced fresh reductions in petrol and high-speed diesel prices.
OGRA now lowered petrol price by Rs3 per litre, bringing the new rate down to Rs332 per litre, while high-speed diesel (HSD) became cheaper by Rs4 per litre, falling to Rs360 per litre.
The announcement comes as welcome news for millions of motorists, transport operators and businesses that depend on petroleum products for their daily operations.
The latest decision follows another price reduction announced by the federal government on Wednesday, November 11, when petrol was cut by Rs3 per litre and diesel by Rs7 per litre. Wednesday’s adjustment had brought petrol prices down to Rs335 per litre and diesel to Rs364 per litre.
With Thursday’s fresh revision, petrol has now become Rs6 cheaper per litre over two consecutive days, while diesel has recorded a cumulative reduction of Rs11 per litre.
Global Oil Markets Bounce Back Despite Supply Concerns
While petroleum prices continue to fall in Pakistan, international oil markets witnessed a different trend on Thursday, with crude prices recovering from earlier losses. Global energy markets remained caught between two opposing forces: rising crude oil production and persistent geopolitical tensions involving Russia and the Middle East.
Concerns over increasing oil supplies continued to weigh on market sentiment, but geopolitical uncertainty helped support prices. Brent crude futures had gained 65 cents to reach $93.40 per barrel. US West Texas Intermediate (WTI) crude traded at $86.54 per barrel, recording a marginal increase of one cent.
Petrol Price in Pakistan drops to Rs335 per Litre after Rs43 Cut in Two Weeks
