Pakistan, Sept. 6 -- Diesel price could fall by around Rs 18 to Rs 20 per litre after the government decided to further reduce the high-speed diesel (HSD) crack spread to $30 per barrel.

"Under the proposed mechanism, the HSD crack spread will be linked to the landed cost of crude oil for each individual refinery. The mechanism will remain in place until the crisis surrounding the Strait of Hormuz eases," on Saturday, citing a senior top official at the petroleum ministry. Earlier, on August 19, the government reduced the price of diesel by Rs32 per litre in one go by capping the HSD crack spread at $41.8 per barrel, compared with an international market crack of around $68-70 per barrel.

In April, the government had also reduced the re...