Govt raises petrol price by Re0.88 per litre, reduces high-speed diesel rate by Rs1.88

Dawn reported that the government increased petrol rates by Rs0.88 a litre on Monday, while high-speed diesel (HSD) came down by Rs1.88 a litre. Under the revision, petrol will sell at Rs393.64 a litre and HSD at Rs397.76, with the new rates applicable from Oct 6, a Tuesday. The Petroleum Division issued the notification setting these figures.

Levies stand at Rs114 a litre on petrol and Rs100 a litre on diesel, and both fuels continue to bear these charges. HSD is now below its April 3 high of Rs520.35, having climbed from Rs281 after the US-Iran war began on February 28. Petrol reached Rs458.41 on the same day after rising from Rs266 in early March.

The government has also reintroduced austerity measures, requiring markets to close by 9pm and trimming fuel allocations for official vehicles by 50 per cent over three months. Fuel prices are being fixed daily following a July 17 announcement by Petroleum Minister Ali Pervaiz Malik, with Ogra given responsibility for the decision. Dawn also noted a relief scheme announced by Prime Minister Shehbaz Sharif on September 13 for motorcycles, autos and vehicles up to 800cc.