According to sources, a Petroleum Division notification fixed the petrol price at Rs379.31 per litre for Thursday, October 22, down Rs2.71 from Wednesday. High-speed diesel, however, rose by 31 paisas to Rs390.11 per litre.
The revision comes just a day after the government raised petrol by 88 paisas and diesel by 53 paisas per litre for October 21. Motorists therefore get some relief after a one-day rise, while diesel, which powers transport and farming, has gone up for a second straight day.
The report notes that on July 17 the government replaced weekly fuel pricing with daily reviews, as US-Iran tensions kept global oil prices volatile. Because Pakistan imports most of its fuel, disruption on routes such as the Strait of Hormuz or the Red Sea feeds quickly into local prices.
To protect low-income consumers, Prime Minister Shehbaz Sharif announced on September 13 a Rs100-per-litre petrol discount for motorcycles, rickshaws and cars up to 800cc, covering an estimated 11.8 million people. Fuel-saving curbs in force since September 17 also require markets to close by 9pm and wedding halls by 10pm.