Petrol Up Rs20.81 and Diesel Rs55.36 in a Week Under Daily Pricing Mechanism
ISLAMABAD: Petrol and diesel prices in Pakistan have witnessed sharp increases within a week following the government’s decision to determine petroleum product prices on a daily basis. Since the implementation of the new mechanism, petrol has become Rs20.81 per litre more expensive, while diesel prices have surged by Rs55.36 per litre.
According to the Petroleum Division, petroleum prices were first revised under the new policy on July 18, when petrol prices were increased by Rs5.44 per litre and high-speed diesel by Rs31.05 per litre.
Subsequently, on July 21, petrol prices were reduced by Rs0.35 per litre, while diesel prices were increased by Rs5.71 per litre.
For July 22, petrol became costlier by Rs4.93 per litre and diesel by Rs7.15 per litre. The following day, July 23, petrol prices were raised by Rs6.39 per litre, while diesel prices increased by Rs7.83 per litre.
On July 24, both petroleum products saw another increase, with petrol prices rising by Rs4.40 per litre and diesel by Rs3.62 per litre.
Following the latest revisions, the price of petrol has reached Rs335.18 per litre, while high-speed diesel is now being sold at Rs383.46 per litre.
It may be recalled that on July 17, the federal cabinet approved a new pricing mechanism under which the Oil and Gas Regulatory Authority (OGRA) would determine petroleum product prices on a daily basis in line with fluctuations in the international oil market.
Under the new system, petroleum prices are reviewed daily to reflect changes in global crude oil prices and related market factors, resulting in more frequent adjustments for consumers across the country.
