ISLAMABAD: The federal government raised the petrol price in Pakistan by Re0.45 to Rs325.43 per litre for August 14, while high-speed diesel increased by Rs1.16 to Rs383.95 per litre.
The revised rates will remain effective for 24 hours under the country’s new daily petroleum pricing mechanism, according to the government notification.
The diesel levy also increased by Re1 to Rs77.28 per litre. However, the government kept the levy on petrol unchanged at Rs80 per litre and kerosene at Rs20.36.
The Oil and Gas Regulatory Authority (OGRA) has started publishing daily petroleum prices on its website. Petroleum Minister Ali Pervaiz Malik said the mechanism uses a seven-day average of international market prices.
Read: Pakistan Petrol Pump Strike to Begin August 15, PPDA Says
Under the previous rates, petrol cost Rs324.98 per litre and high-speed diesel cost Rs382.79 per litre. The August 14 revision therefore represents increases of Re 0.45 and Rs 1.16, respectively.
The government shifted to daily fuel reviews amid volatility in international oil markets linked to renewed tensions in the Middle East. Petroleum prices had previously been revised fortnightly before the government moved first to weekly and then daily reviews.
Under the cabinet-approved framework, OGRA can announce daily ex-depot petrol and diesel prices without prior approval from the prime minister or federal government. Friday prices will remain unchanged through Saturday and Sunday.
