The government has given minor relief to petrol users by announcing new prices of petroleum products for July 30, while the price of high-speed diesel has been further increased.
According to the Petroleum Division, after a reduction of 75 paise per litre in the price of petrol, its new rate has been set at Rs 335.6 per litre. On the other hand, high-speed diesel has reached Rs 390.62 per litre after becoming more expensive by Rs 2.24 per litre.
These new prices will be applicable only for July 30. The government has recently introduced a system of daily review of prices of petroleum products so that changes in crude oil prices in the global market can be incorporated into the local market more quickly.
According to government officials, OGRA will now announce new prices on a daily basis, while the previously issued rates will remain unchanged on Saturdays and Sundays. The aim of this system is to make the pricing process compatible with the current global conditions.
It may be recalled that a day earlier, on July 29, the prices of both petrol and high-speed diesel were also increased. The government says that the daily pricing mechanism has been adopted to transmit the impact of changes in the international market to the consumers in a timely manner.