Fuel prices raised for fifth consecutive day

The federal government on Friday increased the prices of petrol and high-speed diesel (HSD) for the fifth consecutive day under the country’s new daily fuel pricing mechanism. According to an official notification, the price of petrol has been increased by Rs3. 66 per litre, while the price of high-speed diesel has been raised by Rs4. 80 per litre. The revised prices took effect immediately. The latest revision follows four consecutive daily increases announced earlier this week. On Thursday, the government raised petrol prices by Rs4. 40 per litre and diesel by Rs3. 62 per litre. A day earlier, petrol was increased by Rs6. 39 per litre and diesel by Rs7. 83 per litre, after Tuesday’s increase of Rs4. 93 per litre for petrol and Rs7. 15 per litre for diesel. The government last week replaced the previous weekly petroleum pricing system with a daily pricing mechanism, authorising the Oil and Gas Regulatory Authority (OGRA) to determine ex-depot petrol and diesel prices using a rolling seven-day average of international oil prices. Officials say the new system is designed to enable quicker adjustments in response to fluctuations in global energy markets and improve transparency in fuel pricing. The continued increase in petroleum prices is expected to add further inflationary pressure by raising transportation and logistics costs across the country. High-speed diesel is widely used in the freight, agriculture and industrial sectors, while higher petrol prices directly affect private motorists, public transport users and commuters nationwide.

Read full story on Aaj English Tv