ISLAMABAD: The federal government has reduced petrol and diesel prices by Rs3 and Rs7 per litre, respectively, according to a notification issued by the Oil and Gas Regulatory Authority (OGRA).
Under the revised prices, petrol will now cost Rs335 per litre after a reduction of Rs3.
The price of high-speed diesel has been cut by Rs7 per litre to Rs364.
Earlier, Oil prices rose about 1 percent on Wednesday from the previous session’s two-month lows, after Iran’s security chief said Tehran would not allow even a single particle of enriched nuclear material to leave the country.
Washington has said nuclear matters must be part of any initial negotiations with Tehran aimed at ending the US-Israeli war on Iran.
Brent futures were up $1.28, or 1.4 percent, to $92.77 a barrel at 0934 GMT. US West Texas Intermediate crude gained 76 cents, or 0.9 percent, to $86.80.
In the previous session, oil prices initially fell by more than $3 a barrel after US officials played down the need for further military strikes against Iran. Prices later pared some losses after an Iranian security official said no talks were taking place between the two sides.
