Pakistan lowers diesel by Rs1.50 and petrol by Rs3.19 per literKARACHI: Pakistan reduced petrol and diesel prices in the first adjustment under a new daily pricing mechanism, with petrol dropping Rs 3.19 per liter and high-speed diesel falling Rs 1.50 per liter, effective Aug. 7, 2026. Petrol now costs Rs 329.82 per liter, down from Rs 333.01, while high-speed diesel decreased to Rs 382.36 from Rs 383.86, according to the Oil and Gas Regulatory Authority. Tensions have mounted since a fragile June truce collapsed, reviving fears of full-scale war, according to a government document obtained by Geo News. The document also outlined revised import arrangements for fiscal year 2026-27, directing that high-speed diesel imports be routed exclusively through Pakistan State Oil, while oil marketing companies may import petrol according to their market shares. The regulator will publish daily Platts reference prices, and any changes to the petroleum levy require approval from the Finance Division, according to the document.