Govt increases petrol price by Rs3.05, diesel by Rs5.37

Dawn reported that petrol has gone up by Rs3.05 per litre and high-speed diesel (HSD) by Rs5.37 per litre. The revised rates apply from Friday, September 11, taking petrol to Rs370.80 per litre and HSD to Rs398.04 per litre. Taxes and duties still make up Rs114 per litre of the petrol price and Rs100 per litre of the diesel price.

Both fuels are still below the peaks they reached in April. HSD climbed from Rs281 after the US-Iran war began on February 28, reaching Rs520.35 on April 3 before easing. Petrol hit Rs458.41 on the same day, having started its rise from Rs266 earlier in March.

Pricing has been set daily since July 17, when Petroleum Minister Ali Pervaiz Malik said the daily approach followed swings in international prices after renewed hostilities between Iran and the US. The Oil and Gas Regulatory Authority (Ogra) now decides prices each day using global market trends, replacing the weekly revisions in place since early March. Petrol is used mainly for private transport and two-wheelers, while diesel powers heavy vehicles, power plants and large generators, and the two fuels together are the major revenue earners with roughly 700,000 to 800,000 tonnes sold each month.