ISLAMABAD: The federal government on Thursday increased the price of petrol by Rs3.26 per litre while reducing the price of high-speed diesel (HSD) by Rs1.01 per litre. The revised rates are effective from Friday, October 2.
According to the Petroleum Division notification, petrol has risen from Rs387.40 to Rs390.66 per litre, while high-speed diesel has been fixed at Rs399.34 per litre, down from Rs400.35.
The adjustment was made under Pakistan’s daily petroleum pricing mechanism, in which the Oil and Gas Regulatory Authority (OGRA) sets fuel prices based on movements in international oil prices and related import costs. The new mechanism uses a rolling seven-day average of international petroleum prices.
According to Petroleum Minister Ali Pervaiz Malik, the daily price fixation mechanism was introduced to pass on the impact of global market movements to consumers more quickly and transparently. Current reporting puts taxes and duties at around Rs114 per litre on petrol and Rs100 per litre on diesel.
The latest increase reverses the small relief announced for October 1, when petrol was reduced by just 14 paisas to Rs387.40. International oil markets remain volatile amid Middle East tensions.
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