The government has increased petrol prices by Rs 0.45 per litre and high-speed diesel prices by Rs 1.16. Petrol will now cost Rs 325.43 per litre. Meanwhile, high-speed diesel will sell at Rs 383.95 per litre.
The Petroleum Division said the revised prices will take effect from August 14. The government continues charging Rs 114 per litre on petrol.
It also collects Rs 100 per litre in taxes and duties on diesel. The latest increase follows continued fluctuations in international oil markets.
Fuel Prices Rise Amid Market Volatility
Diesel previously reached Rs 520.35 per litre on April 3. Its price had risen from Rs 281 after the US-Iran conflict began on February 28.
Petrol also reached Rs 458.41 per litre on April 3. Its price had climbed from Rs 266 during the first week of March.
Petroleum Minister Ali Pervaiz Malik previously announced daily fuel price revisions. The government introduced the policy because international prices remained highly volatile.
Daily Pricing Policy Draws Opposition
The federal government assigned Ogra responsibility for setting fuel prices daily. The regulator will consider international market trends when making decisions.
However, the All Pakistan Dealers Association rejected the daily pricing policy. The association said it could consider launching a protest.
Petrol price changes directly affect private transport users and middle-income households. Diesel prices also influence heavy transport, power plants and large generators.
Petrol and diesel remain major revenue sources for the government. Monthly sales reach around 700,000 to 800,000 tonnes for these fuels.
