The government cut the price of high-speed diesel by Rs3.56 per litre and petrol by Rs2.27 effective for Sept 29, as the government adjusted fuel prices in response to changes in global petroleum markets. The price of high-speed diesel will fall to Rs404.97 per litre from Rs408.53, while the price of petrol will decline to Rs389.03 from Rs391.30, according to a notification issued by the Petroleum Division on Monday.

The Oil and Gas Regulatory Authority revised the ex-depot prices under the federal government's petroleum pricing mechanism. The latest reduction comes as international oil-market factors, including changes in Platts rates, premiums and other incidental costs, affected Pakistan'sdomestic fuel pricing, the notification said. Diesel is widely used by the transport, agriculture and industrial sectors, making changes in its price particularly significant for freight costs and the prices of goods.