Govt raises petrol price by Rs1.20 per litre
Pakistan government hikes petrol price by Rs1.20 per litre while cutting high-speed diesel rate by Re0.17.
In brief
Pakistan government hikes petrol price by Rs1.20 per litre while cutting high-speed diesel rate by Re0.17. Pakistan's government increased petrol prices to Rs393.86 per litre and reduced high-speed diesel rates to Rs396.65 per litre amid Middle East conflict. Originally reported by Dawn.
Government price change
The government raised petrol prices by Rs1.20 per litre but reduced high-speed diesel rates by Re0.17 per litre.
New prices effective
Petrol will retail at Rs393.86 per litre, while high-speed diesel will cost Rs396.65 per litre starting October 15.
Tax rates remain
The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
Price history
HSD prices dropped from a peak of Rs520.35 on April 3 to Rs396.65 after rising from Rs281 following the US-Iran war.
Petrol price history
Petrol prices peaked at Rs458.41 on April 3 after starting from Rs266 in early March.
Austerity measures
The government reintroduced measures requiring markets to close by 9pm and cutting fuel allocations for official vehicles by 50 percent for three months.
Relief scheme
Prime Minister Shehbaz Sharif announced a relief scheme for motorcycle, auto, and up to 800cc vehicle users to alleviate rising oil prices.
Daily pricing
Petroleum Minister Ali Pervaiz Malik announced fuel prices would be fixed daily due to international market fluctuations following renewed US-Iran hostilities.
Previous pricing
The government previously announced weekly fuel price revisions since early March amid Middle East conflict concerns.
Impact on public
Petrol and high-speed diesel affect middle and lower-middle classes, with monthly sales of 700,000 to 800,000 tonnes compared to 10,000 tonnes of kerosene.
Ogra responsibility
The Oil and Gas Regulatory Authority (Ogra) will decide fuel prices daily based on international market trends.
Next steps
The government will implement daily fuel price adjustments as part of its response to rising global oil prices and Middle East conflict.
The one thing
Pakistan's government increased petrol prices to Rs393.86 per litre and reduced high-speed diesel rates to Rs396.65 per litre amid Middle East conflict.
