ISLAMABAD: Pakistan has raised the prices of petrol and high-speed diesel, pushing both fuel rates higher amid continued volatility in global oil markets.
The government has increased the petrol price by Rs3.40 per litre, taking it to Rs367.75 per litre. The price of high-speed diesel has risen by Rs6.72 per litre to Rs392.67 per litre.
The new rates took effect on September 10.
Since July 17, petrol prices have been reduced 12 times but increased 21 times. During the same period, the government has cut high-speed diesel prices 10 times while raising them 23 times.
The frequent changes reflect the government’s decision to adjust petroleum prices more frequently in response to developments in the Middle East and fluctuations in international oil prices.
The government has adopted a daily pricing mechanism for petroleum products amid the volatile regional situation. However, it keeps prices unchanged on Saturdays and Sundays under the current mechanism.
The latest increase is expected to add to transportation and operating costs and could put further pressure on consumers and businesses.
