The federal government has increased petrol prices by Rs 0.77 per litre while reducing high-speed diesel prices by Rs 1.03 per litre. The revised fuel rates will take effect from September 1, according to a notification issued by the Petroleum Division.
Following the latest adjustment, petrol will sell at Rs 342.79 per litre. Meanwhile, high-speed diesel will retail at Rs 370.41 per litre across the country. The government continues to impose Rs 114 per litre in taxes on petrol. Similarly, authorities levy Rs 100 per litre in taxes and duties on diesel.
New Fuel Prices Take Effect From September
According to official details, the revised prices will become effective from Tuesday. The adjustment follows ongoing fluctuations in global oil markets and changing international energy trends.
Furthermore, the government has altered fuel pricing policies in recent months. Officials previously introduced weekly price reviews to respond quickly to market changes. However, authorities later decided to shift toward daily price adjustments. The move aims to reflect international price movements more accurately.
Global Market Volatility Influences Fuel Policy
High-speed diesel prices have declined significantly from their peak level of Rs 520.35 per litre recorded on April 3. Earlier, diesel prices had climbed sharply from Rs 281 per litre after tensions escalated following the US-Iran conflict on February 28.
Likewise, petrol prices reached a record high of Rs 458.41 per litre on April 3. The upward trend had started from Rs 266 per litre during the first week of March. Consequently, consumers faced increased transportation and fuel costs during that period.
Earlier, Petroleum Minister Ali Pervaiz Malik stated that fuel prices would be fixed daily due to persistent international market volatility. In addition, the government introduced fuel conservation measures to address potential supply disruptions caused by Middle East tensions.
The federal government also announced targeted relief initiatives in April, providing subsidised fuel to eligible consumers.
