Pakistan's federal government on Wednesday lowered fuel prices for a second day running, cutting petrol by Rs3 and high-speed diesel by Rs7 a litre for Thursday, November 12.
A Petroleum Division notification set the new petrol price at Rs335 per litre, while diesel will sell at Rs364 per litre.
The move follows a larger cut only a day earlier, when the government reduced petrol by Rs8 and diesel by Rs7 a litre for November 11. Over the two days, diesel has fallen by a combined Rs14 and petrol by Rs11, relief that matters most to transporters and farmers.
Since July 17, Pakistan has reviewed fuel prices daily instead of weekly, a change introduced as US-Iran tensions kept global oil markets volatile. On November 2, the government also said oil refineries would absorb a burden of Rs15 billion a month so that petrol could be sold Rs15 below the global market rate.
In September, Prime Minister Shehbaz Sharif announced a targeted scheme offering Rs100 a litre off petrol for motorcycles, rickshaws and cars up to 800cc, aimed at an estimated 11.8 million beneficiaries.