ISLAMABAD: Pakistan has raised petrol and high-speed diesel prices by Rs5.77 and Rs6.47 per litre, respectively, with the new rates taking effect on Tuesday, August 18, the Petroleum Division said in a notification.
Petrol will now cost Rs331.20 per litre, up from Rs325.43, while HSD will be sold at Rs390.42 per litre, compared with Rs383.95 previously, according to the notification issued by the Petroleum Division.
The latest adjustment follows a review by the Oil and Gas Regulatory Authority (OGRA) and comes after several changes in petroleum prices in recent weeks.
The government had kept petrol and diesel prices unchanged for three days because of the Independence Day holiday.
The Petroleum Division said on Thursday that petrol would remain at Rs325.43 per litre and HSD at Rs383.95 until August 17.
Before that, OGRA had raised petrol by 45 paise per litre and HSD by Rs1.16 with effect from August 14.
That adjustment came a day after the government cut the petrol price by 94 paise per litre while increasing the diesel price by 54 paise.
The frequent revisions follow the government’s shift from a weekly to a daily petroleum pricing mechanism.
Under the new system, OGRA calculates ex-depot prices using a rolling seven-day average of international oil prices, along with exchange-rate movements and other cost components, before submitting its recommendations to the government.
The daily mechanism is intended to allow domestic fuel prices to respond more quickly to changes in international oil prices and other costs.
