International energy markets remained under pressure, with Murban crude trading at around $66 per barrel, US West Texas Intermediate (WTI) falling to $69 per barrel, and Brent crude trading at $72.12 per barrel.

The decline in global crude prices comes amid concerns over slowing demand in major economies and expectations of stable oil supplies. Analysts say fluctuations in international oil markets continue to influence fuel pricing decisions in many countries, including Pakistan.

According to a notification issued by the government, the price of petrol has been reduced by Rs1.97 per litre, while high-speed diesel has also been cut by Rs1.97 per litre.

Following the latest revision, the new petrol price stands at Rs297.97 per litre, down from Rs299.94 per litre. Similarly, the price of high-speed diesel has been lowered to Rs309.50 per litre from Rs311.47 per litre.

In contrast, the government has increased the price of kerosene oil by Rs4.09 per litre. The new kerosene rate has been fixed at Rs231.14 per litre, compared to the previous price of Rs227.05 per litre.

The revised fuel prices have taken effect immediately. Fuel prices in Pakistan are reviewed periodically based on trends in the international oil market, the exchange rate and applicable taxes and levies.

Consumers and businesses closely monitor these adjustments, as changes in fuel prices directly affect transportation costs, inflation and the prices of essential goods across the country.