Following the revision, diesel will cost Rs400.67 per litre, with the new prices taking effect on Friday, October 30.
The government continues to collect Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel, adding to the financial burden on consumers amid fluctuating international oil prices.
The fuel price adjustment comes as political pressure mounts on the government to provide relief to the public. On Tuesday, Jamaat-i-Islami chief Hafiz Naeemur Rehman met Prime Minister Shehbaz Sharif in Islamabad to discuss abolishing the petroleum levy.
Both sides agreed to establish a joint committee to examine expanding the existing fuel relief scheme for motorcycle owners, rickshaws and vehicles with engines up to 800cc.
Rehman warned that JI would march to Islamabad in mid-November if the government failed to announce substantial relief.
Meanwhile, the Pakistan Petroleum Dealers Association urged consumers against panic buying, warning that excessive purchases could disrupt market conditions. Senators also raised concerns about fuel supplies, although Minister of State for Finance and Revenue Bilal Azhar Kayani said there were no supply issues.
Diesel prices have fallen considerably from their peak of Rs520.35 per litre recorded on April 3. Petrol also dropped from its peak of Rs458.41 per litre during the same period.
The government has introduced austerity measures in response to rising fuel costs and regional tensions. These include requiring markets to close by 9pm and cutting fuel allocations for official vehicles by 50% for three months.
Fuel prices have been adjusted frequently since early March because of volatility in international oil markets. The government has also assigned the Oil and Gas Regulatory Authority responsibility for determining prices based on global market trends.
Changes in petrol and diesel prices affect transport costs, household budgets and the prices of goods across Pakistan.
