Govt raises petrol price by Rs1.82 per litre, reduces high-speed diesel rate by Re0.91

Dawn reported a petrol increase of Rs1.82 per litre alongside a cut of Re0.91 per litre for high-speed diesel, known as HSD. Petrol will now retail at Rs396.65 a litre and HSD at Rs394.94, with the revised rates applying from October 8.

Levies remain at Rs114 per litre for petrol and Rs100 for diesel, the report added. HSD has eased from its April 3 high of Rs520.35, after climbing from Rs281 when hostilities between the US and Iran began on February 28. Petrol followed a similar course, reaching Rs458.41 on April 3 following a rise from Rs266 in early March.

Under reinstated austerity steps, markets must shut by 9pm and official vehicles will receive 50 per cent less fuel for three months. On September 13, Prime Minister Shehbaz Sharif unveiled a relief scheme covering motorcycles, autos and vehicles with engines up to 800cc, aimed at easing the cost of higher global oil prices. According to the petroleum minister, the cabinet and premier assigned the Oil and Gas Regulatory Authority the task of setting rates daily, tracking global market movements.