Govt raises petrol price by Rs2.84, HSD by Rs2.28 per litre

Dawn reported that the government increased petrol prices by Rs2.84 per litre and high-speed diesel (HSD) by Rs2.28 per litre on Thursday. After the revision, petrol will sell at Rs349 per litre and HSD at Rs374.31 per litre. The Petroleum Division notification states that the new rates apply from Friday, September 4.

The levies currently stand at Rs114 for each litre of petrol and Rs100 for each litre of diesel. HSD has fallen back from its April 3 high of Rs520.35, having risen from Rs281 once the US-Iran conflict began on February 28. Petrol also retreated from a peak of Rs458.41 on the same date, after climbing from Rs266 in early March.

On July 17, Petroleum Minister Ali Pervaiz Malik said prices would be set daily because of swings in global markets after fresh clashes involving Iran and the US. Before that, the government had changed rates every week since early March, while urging fuel conservation and providing subsidised fuel relief in April. Ogra has since been tasked with setting prices daily according to global market trends, a move approved by the cabinet and the premier. Petrol mainly fuels private cars, rickshaws and two-wheelers, whereas diesel runs heavy haulage, power stations and large generators.