Pakistan Raises Petrol, Diesel Prices Under Daily Pricing Mechanism

The government on Thursday increased the prices of petrol and high-speed diesel (HSD) by Rs2.84 and Rs2.28 per litre, respectively, effective September 4, as part of a new daily pricing mechanism aimed at reflecting international market volatility. Under the revised rates, petrol will now cost Rs349 per litre, while HSD will be priced at Rs374.31 per litre. This latest adjustment follows a series of recent increases. On September 3, the government had raised petrol by Rs2.29 and HSD by Rs1.11 per litre, making petrol Rs346.16 and HSD Rs372.03. Prior to that, on September 1, the Oil and Gas Regulatory Authority (OGRA) had increased petrol by Rs1.08 and HSD by 51 paisa per litre. The continuous upward trend is attributed to renewed hostilities in the Middle East, which have disrupted global energy supplies and caused significant price fluctuations. The shift to a daily fuel price review system was announced by Petroleum Minister Ali Pervaiz Malik on July 17. He explained that the daily prices are now based on a seven-day average of international market prices, a practice aligned with international standards.