The federal government has announced another reduction in petrol and diesel prices, marking the eighth consecutive round of fuel price cuts under the daily pricing mechanism.

Petrol has become cheaper by Rs. 3 per litre, bringing its price down from Rs. 335 to Rs. 332 per litre. High-speed diesel (HSD) has been reduced by Rs. 4 per litre to Rs. 360 from Rs. 364.

The revised prices were announced through a notification issued by the federal government on Thursday.

This follows Wednesday’s reduction, when petrol prices were cut by Rs. 3 per litre and diesel by Rs. 7 per litre.

The latest cuts have brought petrol prices down by Rs. 45.91 per litre from Rs. 377.91 on October 30. Diesel has declined by Rs. 42.96 per litre from Rs. 402.96 over the same period.

Since the introduction of daily fuel price revisions, petrol and diesel rates have seen several increases and decreases. However, the latest eight consecutive reductions have extended the downward trend in fuel prices.