Petrol Up Rs1.19 to Rs394.83 as Diesel Falls Rs1.91 in Latest Revision
Petrol Up Rs1.19 to Rs394.83 as Diesel Falls Rs1.91 in Latest Revision
The petrol price in Pakistan has climbed for another day, rising by Rs1.19 to Rs394.83 per litre, while high-speed diesel has become cheaper by Rs1.91 to Rs395.85 per litre in the latest daily fuel price revision.
The new prices, announced by the Petroleum Division, apply from October 7 (Wednesday). It is the fourth consecutive daily increase in the petrol price, as pump prices keep tracking international market movements under the daily revision mechanism introduced in July.
No change in taxes and duties
Taxes and duties on fuel remain unchanged. Levies stand at Rs114 per litre on petrol and Rs100 per litre on diesel, according to the notification.
Petrol is used mainly in private transport, small vehicles, rickshaws and two-wheelers, so the increases land hardest on middle and lower-middle-class commuters. High-speed diesel, by contrast, powers heavy transport, agricultural machinery, power plants and large generators.
How the daily pricing mechanism works
On July 17, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would be fixed on a daily basis because of fluctuations in the international market following renewed Iran-US hostilities. The cabinet and the prime minister approved the change, under which the Oil and Gas Regulatory Authority decides prices every day based on international trends. Before that, prices had been revised weekly since early March.
The daily mechanism means consumers now wake up to a revised price board almost every morning. Since the system began, the petrol price in Pakistan has moved steadily upward, adding to pressure on household budgets already stretched by inflation.
A year of turbulence at the pump
Fuel prices in Pakistan have swung sharply this year. Diesel prices began rising from Rs281 per litre after the US-Iran war broke out on February 28, peaking at Rs520.35 on April 3. Petrol, which stood at Rs266 in the first week of March, climbed to a peak of Rs458.41 per litre on April 3 before easing and then resuming its climb under daily pricing.
Monthly sales of petrol and high-speed diesel together stand at roughly 700,000 to 800,000 tonnes, compared with only about 10,000 tonnes of kerosene, showing how deeply the two fuels are tied to everyday economic life.
Government’s relief and austerity measures
Rising fuel costs have pushed the government to pair price revisions with austerity and relief measures. Markets are to close by 9pm, and official-vehicle fuel allocations have been cut by 50 per cent for three months, amid the climbing prices and the ongoing Middle East conflict.
On September 13, Prime Minister Shehbaz Sharif announced a “relief scheme” for motorcycles, auto-rickshaws and vehicles up to 800cc to “alleviate the burden” of rising global oil prices on small vehicle owners.
What is the new petrol price in Pakistan?
Petrol now costs Rs394.83 per litre after a rise of Rs1.19, while high-speed diesel has fallen by Rs1.91 to Rs395.85 per litre. The new prices apply from October 7.
Why do fuel prices change every day?
Since July 17, fuel prices have been revised daily by the Oil and Gas Regulatory Authority on the basis of international market trends, after the cabinet approved daily pricing in response to volatility caused by the Iran-US confrontation.
How much tax is included in the price?
Taxes and duties are unchanged at Rs114 per litre on petrol and Rs100 per litre on diesel.
