Islamabad: The federal government reduced petrol prices by Rs 5.45 per litre and high speed diesel (HSD) by Rs 3.68 per litre, with the revised rates taking effect on Wednesday.

According to a notification from the Oil and Gas Regulatory Authority (OGRA), petrol will now cost Rs 369.06 per litre, down from Rs 374.51, while diesel fell to Rs 391.52 per litre, down from Rs 395.20.

The latest revision follows another reduction announced on Monday, when petrol prices fell by Rs 3.40 and diesel by Rs 7.76 per litre.

The government introduced several measures to manage fuel consumption, including restrictions on market operating hours and a temporary reduction in fuel allocations for official vehicles.

It also announced targeted relief for motorcyclists, rickshaw drivers and owners of vehicles with engines up to 800cc.

Changes in petrol prices primarily affect private motorists and two wheeler users, while diesel prices influence freight transport, agriculture and electricity generation costs.

Further price revisions will depend on movements in the international oil market and OGRA's daily pricing calculations.