Petrol price up by Rs3.34, HSD’s by Rs5.27

Business Recorder reported that the Petroleum Division has lifted fuel rates for the second time in two days. Petrol now costs Rs334.54 per litre after a rise of Rs3.34, up from Rs331.20, while high-speed diesel (HSD) climbed Rs5.27 to Rs395.69 per litre. The revised ex-depot rates take effect on August 19.

On August 18, petrol had already gone up by Rs5.77 per litre and diesel by Rs6.47. The petroleum levy on HSD has been set at Rs78.28 per litre, while the levy on petrol stays at Rs80 per litre. Customs duty and the Climate Support Levy of Rs5 per litre are unchanged on both fuels.

The Economic Coordination Committee approved a Rs1.34 per litre increase in dealer margins, lifting the fixed margin from Rs8.64 to Rs9.98 per litre from September 1. The move is meant to head off a nationwide strike that the Pakistan Petroleum Dealers Association had threatened. Ogra reviews rates every day, taking into account currency fluctuations and a moving average over seven days of Singapore Platts quotations.