ISLAMABAD: Federal government has kept the price of petrol unchanged while increasing the price of high-speed diesel by 85 paisa per litre, according to a notification issued by the Petroleum Division.
The new prices will take effect from Oct. 30.
Under the revised rates, high-speed diesel will cost Rs 400.67 per litre, up from its previous price.
The price of petrol has been maintained at Rs 377.91 per litre, the notification said.
Earlier, Oil prices slipped Thursday as hopes for renewed U.S.-Iran peace talks eased supply concerns, even as escalating attacks across the Middle East threatened to disrupt crude flows.
Brent crude futures fell $1.22, or 1.1%, to $114.10 a barrel by 3:51 a.m. GMT, while U.S. West Texas Intermediate crude dropped $1.33, or 1.3%, to $101.45. Both benchmarks had risen Wednesday, with Brent gaining 1.3% and WTI climbing 3%.
Market sentiment improved after reports that U.S. Vice President JD Vance had sent a letter to Iranian Security Council chief Mohsen Rezaei in an effort to revive peace negotiations, according to The Wall Street Journal, which cited U.S. officials and people familiar with the matter.
“Selling pressure is prevailing amid expectations that peace talks may resume,” said Yuki Takashima, an economist at Nomura Securities. “However, the decline remains limited.”
Fears of further military escalation continued to limit the losses. The Houthis intensified attacks in the region, while concerns persisted that the United States could launch another military operation against Iran after the Nov. 3 midterm elections.
