Islamabad: (RightNow) The Oil and Gas Regulatory Authority (OGRA) has announced new petroleum product prices effective October 15. Petrol price increases by Rs 1.20 per liter, while diesel price decreases by Rs 0.17 per liter.

The new petrol price is set at Rs 393.86 per liter, and diesel at Rs 396.65 per liter. These changes will impact consumer expenses, especially for petrol-powered vehicles.

OGRA states that the price adjustments align with global market trends and other cost changes. Government taxes and the depreciation of the rupee also influence these prices.

The petrol price hike will raise costs for motorcycles and vehicles, while the diesel price cut offers slight relief to diesel users.

It is important to note that petroleum prices in Pakistan are determined by global oil prices, import costs, and other factors.