ISLAMABAD: The federal government has announced an increase in the prices of petroleum products, while also introducing a new daily pricing mechanism for fuel.
According to a notification issued by the Petroleum Division, the price of high-speed diesel (HSD) has been increased by Rs31.05 per litre, taking the new price to Rs354.35 per litre.
The price of petrol has also been raised by Rs5.44 per litre, bringing the new rate to Rs316.15 per litre.
| Petroleum Product | Increase | New Price (Per Litre) |
|---|---|---|
| Petrol | Rs5.44 | Rs316.15 |
| High-Speed Diesel (HSD) | Rs31.05 | Rs354.35 |
The government also announced that petroleum product prices will now be determined on a daily basis, replacing the previous pricing schedule.
Speaking at a press conference alongside Information Minister Attaullah Tarar, Federal Petroleum Minister Ali Pervaiz Malik said the recent rise in global crude oil prices, driven by escalating regional tensions, has led to higher energy costs worldwide.
He added that the government is moving towards the deregulation of petroleum products, and that the prime minister and the federal cabinet have decided that the Oil and Gas Regulatory Authority (OGRA) will determine fuel prices every day. The revised prices will be published daily on OGRA’s official website.
