ISLAMABAD: Petrol price has been increased by Rs0.77 per litre while High Speed Diesel (HSD) price has been reduced by Rs1.03 per litre under the revised daily petroleum pricing mechanism for September 1.
The Oil and Gas Regulatory Authority (OGRA) has revised the ex-depot prices of petroleum products for September 1, according to a press release issued by the Petroleum Division on Monday.
Following the revision, the ex-depot price of Motor Spirit (MS), commonly known as petrol, has increased from Rs342.02 to Rs342.79 per litre, showing a rise of Rs0.77 per litre.
In contrast, the ex-depot price of High Speed Diesel has been reduced from Rs371.44 to Rs370.41 per litre, registering a decrease of Rs1.03 per litre.
The latest adjustment has resulted in a mixed movement in petroleum prices, with petrol becoming more expensive while diesel has become cheaper for September 1.
Petrol consumers will face an increase of 77 paisa per litre, while consumers using HSD will receive a reduction of Rs1.03 per litre under the latest revision.
According to the Petroleum Division, the revised prices have been determined on the basis of the revised petroleum pricing mechanism issued by the Federal Government.
Under the revised daily pricing mechanism, the new ex-depot price of petrol is Rs342.79 per litre for September 1, while HSD is priced at Rs370.41 per litre for the day.
The latest adjustment marks the beginning of September with opposite movements in the prices of the two major petroleum products, resulting in a modest increase for petrol users and a comparatively larger reduction for diesel consumers.