Petrol price up by Rs3.66, HSD by Rs4.80 as govt revises fuel rates

Pakistan's government has raised the prices of petrol and high-speed diesel (HSD) by Rs3.66 and Rs4.80 per litre, respectively. This decision comes in response to fluctuating global oil prices, which have been impacted by renewed hostilities in the Persian Gulf.

Following the revisions, petrol now costs Rs335.18 per litre, and HSD is priced at Rs383.46 per litre. The government levies a total of Rs110 per litre in taxes and duties on petrol and Rs96 on diesel. The new prices are effective from July 25.

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Petrol price up by Rs3.66, HSD by Rs4.80 as govt revises fuel rates

Petroleum Minister Ali Pervaiz Malik announced that fuel prices will now be fixed on a daily basis due to market volatility. Previously, the government had been implementing weekly revisions since early March. This shift to daily pricing was decided by the cabinet and the prime minister, granting the Oil and Gas Regulatory Authority (Ogra) the responsibility to set prices based on international market trends.

The All Pakistan Dealers Association has rejected the daily pricing decision and indicated plans for a protest. Petrol is primarily used in private transport, affecting middle and lower-middle-class citizens, while diesel price changes impact the heavy transport sector, power plants, and large generators, thus affecting the public broadly.

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fuel prices would now be fixed on a daily basis due to fluctuations in international market prices following renewed hostilities between Iran and the US.