Govt Raises Petrol Price by 45 Paisa, Diesel by Rs1.16 Per Litre
- Petrol price increased to Rs325.43 per litre from Rs324.98.
- High-speed diesel price raised by Rs1.16 to Rs383.95 per litre.
- Revised rates are applicable for August 14 under the daily fuel pricing system.
- OGRA now calculates prices using a rolling seven-day average of international oil prices and other cost factors.
The federal government has increased petrol and high-speed diesel (HSD) prices under the recently introduced daily fuel pricing mechanism, with the revised rates taking effect from midnight for August 14.
According to a notification issued by the Oil and Gas Regulatory Authority (OGRA) following government approval, the price of petrol has been increased by 45 paisa per litre. Petrol will now be available at Rs325.43 per litre, compared with the previous rate of Rs324.98.
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The price of high-speed diesel has seen a larger increase of Rs1.16 per litre, taking the new rate to Rs383.95 from Rs382.79 per litre.
OGRA said the revised petroleum prices would remain applicable for August 14 only, reflecting the government’s move towards daily adjustments in domestic fuel rates.
The latest revision follows another price adjustment just a day earlier, when the government reduced petrol by 94 paisa per litre but increased the price of high-speed diesel by 54 paisa.
Before Wednesday’s revision, petrol was being sold at Rs325.92 per litre, while high-speed diesel stood at Rs382.25 per litre.
Fuel prices in Pakistan have undergone frequent changes in recent weeks after the government moved away from weekly revisions and introduced a daily pricing mechanism.
Under the new system, OGRA determines ex-depot petroleum prices by taking into account a rolling seven-day average of international oil prices. Exchange-rate movements and other applicable cost components are also included in the calculation.
After completing its calculations, the regulator submits its recommendations to the federal government, which gives final approval to the revised rates.
The daily pricing mechanism is intended to allow domestic petrol and diesel prices to reflect movements in global oil markets and other cost factors more quickly than under the previous system.
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