Islamabad: (RightNow). The government has announced new prices for petroleum products. According to a notification issued by OGRA (Oil and Gas Regulatory Authority), the price of petrol has been increased by Rs 4.61. Following this change, the price per liter of petrol is now Rs 393.75.

The price per liter of diesel has been reduced by Rs 1.96. As a result, the price per liter of diesel is now Rs 422.08. According to the notification, these prices are effective from September 22.

The change in petroleum product prices is due to a decrease in crude oil prices in the global market. The price of US crude oil WTI (West Texas Intermediate) has dropped by more than 5%.

The decrease in global prices is attributed to diplomatic progress towards ending the Iran conflict, which has eased concerns about oil supply.

It is noteworthy that a decrease in crude oil prices was also recorded in the global market yesterday, with US oil dropping to $100.3 per barrel.