Petrol rises, diesel falls in Pakistan — Dawn

In Pakistan, the government increased the price of petrol by 2.02 Pakistani rupees per litre while reducing the price of high-speed diesel (HSD) by 3.59 rupees. Following the revision, petrol will cost 391.30 rupees per litre and diesel 408.53 rupees per litre, Dawn reports.

The new prices will be in effect for three days

According to a statement by Pakistan’s Petroleum Division, the new prices will be in effect from September 26 to 28. The authorities also continue to collect 114 rupees per litre in taxes and duties on petrol, and 100 rupees on diesel fuel.

High-speed diesel had previously reached a peak price of 520.35 rupees per litre on April 3. The price of petrol reached 458.41 rupees per litre on the same day. After the war between the United States and Iran began on February 28, diesel started rising in price from around 281 rupees per litre, while petrol cost about 266 rupees at the beginning of March.

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Daily review of fuel prices

On July 17, Petroleum Minister Ali Pervaiz Malik stated that fuel prices would be set daily because of fluctuations in international markets amid renewed hostilities between Iran and the United States. Previously, since the beginning of March, the government had reviewed prices weekly.

According to the minister, the cabinet and the prime minister decided to grant the oil and gas regulator OGRA the authority to set prices daily in view of international market trends. Amid rising fuel prices, the government also reinstated austerity measures: markets must close by 21:00, and fuel limits for official vehicles were cut by 50% for three months.

Petrol in the country is mainly used by owners of private transport, small cars, rickshaws and two-wheeled vehicles. Diesel, in turn, is consumed by heavy transport, power plants and large generators.