Islamabad: (RightNow) The federal government has announced adjustments in petroleum product prices, increasing petrol and decreasing high-speed diesel prices. These new rates are effective until October 6.

The Ministry of Petroleum Division issued a notification stating that petrol prices have increased by 88 paisas per liter, now costing Rs 393.64 per liter. Meanwhile, diesel prices have decreased by Rs 1.88 per liter, now priced at Rs 397.76 per liter.

According to the Ministry of Energy, fluctuations in global crude oil prices and the Middle East situation have prompted these changes. Alterations in Platts rates and other factors also contributed to the price adjustments.

It is noteworthy that since July 17, petrol prices have decreased 21 times and increased 32 times, while high-speed diesel prices have seen the same frequency of changes.

The government sets petroleum product prices daily due to the Middle East crisis, although prices remain stable on weekends.