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Pakistan has reduced the petrol price by 14 paisa per litre and cut high-speed diesel (HSD) by Rs1.89 for October.
Petrol will now sell at Rs387.40 per litre. HSD will cost Rs400.35 per litre.
The Petroleum Division said the new rates took effect on October 1.
The government continues to collect Rs114 per litre in taxes and duties on petrol. The levy on diesel stands at Rs100 per litre.
The latest reduction follows a sharp rise in fuel prices earlier this year. Global oil market disruptions pushed prices higher.
HSD reached Rs520.35 per litre on April 3. It has since fallen from that peak.
Petrol also hit Rs458.41 per litre on April 3. Its price had risen from Rs266 per litre in early March.
The government has introduced several measures to conserve fuel. The steps come amid continuing tensions in the Middle East.
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Under the measures, markets must close by 9pm. The government has also cut fuel allocations for official vehicles by 50 per cent for three months.
Prime Minister Shehbaz Sharif announced a relief scheme on September 13. The programme covers motorcycle users, rickshaw operators and owners of vehicles with engines up to 800cc.
The scheme aims to reduce the impact of higher global oil prices on consumers.
Deputy Prime Minister and Foreign Minister Ishaq Dar reviewed the scheme on September 29. He praised its implementation and called it a whole-of-government effort.
Officials said around 7.60 million people had registered for the scheme. They also said 7.71 million tokens had been redeemed.
Pakistan moved to daily fuel price adjustments in July. The change followed increased volatility in international oil markets.
Before that move, the government revised fuel prices weekly. Authorities began the weekly system in March.
The government also introduced fuel conservation measures. It later announced targeted relief for consumers.
The petroleum minister said Ogra would determine fuel prices each day. The regulator would base its decisions on international market trends.
Petrol remains a major household expense in Pakistan. Private cars, motorcycles, small vehicles and rickshaws rely heavily on petrol.
Diesel prices also affect consumers and businesses. Heavy transport vehicles, power plants and large generators use HSD extensively.
Petrol and HSD also generate most of the government’s petroleum revenue. Monthly sales of the two fuels reach around 700,000 to 800,000 tonnes.
Kerosene demand remains far lower. Monthly consumption stands at around 10,000 tonnes.
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