Islamabad: The Oil and Gas Regulatory Authority (OGRA) has announced a reduction in the prices of Motor Spirit (Petrol) and High Speed Diesel (HSD), effective from the 1st of August, 2024. This adjustment reflects changes in the international market and aims to pass the benefits directly to consumers.
According to Press Information Department, the new price of petrol will be Rs. 269.43 per liter, down from Rs. 275.60, representing a decrease of Rs. 6.17 per liter. Similarly, the price of diesel will see a significant reduction of Rs. 10.86 per liter, moving from Rs. 283.63 to Rs. 272.77. These revisions are part of OGRA’s routine assessment of fuel prices in response to the fluctuating global oil market, intending to ensure fair pricing for Pakistani consumers.
The decrease in fuel prices is anticipated to provide some relief to consumers and is reflective of current global oil trends. It also underscores the regulatory body’s commitment to maintaining transparency and adapting to international market dynamics.