Pakistan Raises Petrol and Diesel Prices for Sixth Consecutive Day Under New Daily Pricing Mechanism
Islamabad: The federal government has announced another increase in petroleum prices, marking the sixth consecutive day of fuel price revisions under the newly introduced daily pricing mechanism.
According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs3.66 per litre, taking the new price to Rs335.18 per litre. The price of high-speed diesel has also been raised by Rs4.80 per litre, bringing it to Rs383.46 per litre.
The revised prices will take effect from 12:00 a.m. and will remain valid for the next 24 hours.
Following the latest increase, prices of essential commodities, including flour, cooking oil, pulses, vegetables, sugar, milk, and other food items, have reportedly risen in various markets, adding to the financial burden on consumers already struggling with inflation.
The report noted that middle-income and salaried households, already facing high inflation, unemployment, and stagnant incomes, are expected to experience further pressure on their household budgets due to the higher fuel costs.
The price hike comes after the federal cabinet approved a new mechanism for petroleum pricing under which the Oil and Gas Regulatory Authority (OGRA) will announce the ex-depot prices of petrol and diesel on a daily basis.
Under the new system, fuel prices will be determined according to the average international market prices over the previous seven business days. OGRA will issue daily price notifications without requiring prior approval from the prime minister or the federal government.
