Petrol price hiked by Rs1.85, HSD’s by Rs1.75

Business Recorder reported that petrol and high-speed diesel (HSD) prices will rise from October 29, by Rs1.85 and Rs1.75 per litre respectively. The revised rates are Rs377.91 for petrol and Rs399.82 for HSD, up from Rs 376.06 and Rs 398.07. OGRA said international market movements and higher import costs contributed to the adjustment.

International benchmark petrol reached USD 121.28 per barrel, compared with USD 120.21, while the HSD benchmark increased to USD 114.15 from USD 113.13. The ex-refinery petrol price rose to Rs267.15 per litre, and HSD import cost reached Rs292.27 per litre. Government levies and fixed dealer and oil marketing company margins were unchanged, including a Petroleum Levy of Rs80 per litre on both fuels.