ISLAMABAD: The federal government raised the diesel price in Pakistan by Rs2.29 per litre to Rs402.96 from Rs400.67, while keeping petrol unchanged at Rs377.91 per litre.
The Oil and Gas Regulatory Authority (OGRA) announced the revised ex-depot prices on Friday rates take effect on Saturday, October 31, and remain valid through November 2.
OGRA attributed the diesel price increase to changes in international fuel pricing indicators, including Platts rates, premiums and incidental costs.
The adjustment follows another increase announced on Thursday. That revision raised high-speed diesel by Re0.85 per litre for October 30, while the federal government maintained the existing petrol rate.
International crude oil prices also climbed on Friday as traders assessed supply risks linked to the US-Iran conflict. Brent crude futures for December rose $2.74, or 2.4%, to $117.62 a barrel as of 1045 GMT.
Read: Oil Prices Fall as US-Iran Peace Hopes Ease Supply Fears
The more actively traded January Brent contract gained $2.78 to reach $113.58 a barrel. US West Texas Intermediate (WTI) crude futures increased $2.18, or 2.1%, to $104.18 a barrel.
Oil markets were heading towards a fourth consecutive monthly gain as concerns grew over possible further disruption to Middle Eastern supplies.
Read: PSX KSE-100 Falls 295 Points in Early Friday Trade
Reports of a tanker attack in the Strait of Hormuz added to market concerns about shipping through the region. The latest domestic rates will apply for three days under the federal government’s petroleum pricing mechanism.
