Pakistan raises petrol and diesel prices
The Pakistani government has increased the retail price of petrol by 3.40 Pakistani rupees per litre and of high-speed diesel (HSD) by 6.72 rupees per litre. Following the revision, petrol will cost 367.75 rupees per litre and diesel 392.67 rupees, Dawn reports.
New prices from September 10
According to a Petroleum Division statement, the new prices will take effect on September 10. The government will continue to collect 114 rupees in taxes and levies on each litre of petrol and 100 rupees per litre of diesel.
The current diesel price is below the peak level of 520.35 rupees per litre recorded on April 3. On the same day, petrol cost a record 458.41 rupees per litre. According to the publication, before the increase at the beginning of March, petrol was sold at 266 rupees per litre and diesel at 281 rupees.
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Daily price review
On July 17, Petroleum Minister Ali Pervaiz Malik said that fuel prices would be set daily due to fluctuations on international markets following the resumption of hostilities between Iran and the United States. According to him, the cabinet and the prime minister decided to delegate authority to the Oil and Gas Regulatory Authority (Ogra) to set prices daily in line with international market trends.
Petrol in the country is mainly used in private transport, small cars, rickshaws and two-wheeled vehicles. Diesel is used in the heavy transport sector, at power plants and in large generators. Monthly sales of petrol and HSD amount to approximately 700,000–800,000 tonnes.
