Pakistan, Aug. 1 -- The federal government has announced a slight reduction in the prices of petroleum products for the next three days under Pakistan's newly introduced daily fuel pricing mechanism.

Read More: Government announces nominal cut in petrol and diesel prices

According to a notification issued by the Oil and Gas Regulatory Authority (OGRA), petrol has become cheaper by 12 paisas per litre, bringing the new price down from Rs336.15 to Rs336.03 per litre. High-speed diesel has also been reduced by 66 paisas per litre, with the new rate set at Rs392.38 compared to the previous Rs393.04.

Kerosene oil saw the biggest reduction among the major petroleum products, falling by Rs1.22 per litre to Rs305.22 from Rs306.44.

The revised...