Govt raises petrol, diesel prices again

The federal government on Wednesday increased the prices of petroleum products for the next 24 hours, effective till Thursday, September 3, citing the revised petroleum pricing mechanism. According to a notification issued by the Ministry of Energy (Petroleum Division), the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products under the government’s petroleum pricing mechanism. The price of Motor Spirit (petrol) has been increased by Rs2. 29 per litre, taking it from Rs343. 87 to Rs346. 16 per litre. High Speed Diesel (HSD) has seen a hike of Rs1. 11 per litre, rising from Rs370. 92 to Rs372. 03 per litre. The new prices will remain in effect for Thursday, in line with the government’s ongoing practice of adjusting fuel prices based on international oil markets and other cost factors. In the previous review on Tuesday, the government increased the price of petrol by Rs1. 08 per litre and diesel by 51 paise per litre. On Monday, the government had increased the price of petrol by 77 paise per litre while reducing HSD by Rs1. 03 per litre for one day, Tuesday. Before that, petrol and HSD prices on Friday were reduced by 58 paise and 17 paise per litre, respectively, for three days. The latest adjustment comes amid fluctuations in international oil prices and other cost factors considered under the government’s petroleum pricing mechanism.

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