Pakistan has witnessed a sharp increase in fuel prices after the government’s decision to revise petroleum rates on a daily basis, with petrol becoming Rs20.81 per litre and high-speed diesel Rs55.36 per litre more expensive within a single week.
The Petroleum Division first increased petrol by Rs5.44 per litre and diesel by Rs31.05 per litre on July 18. On July 21, petrol was reduced by Rs0.35 per litre, while diesel saw another increase of Rs5.71 per litre.
Further hikes followed on July 22, when petrol prices rose by Rs4.93 per litre and diesel by Rs7.15 per litre. On July 23, petrol increased by another Rs6.39 per litre, while diesel climbed Rs7.83 per litre.
The upward trend continued on July 24, with petrol becoming Rs4.40 per litre more expensive and diesel increasing by Rs3.62 per litre.
The daily pricing mechanism was approved by the federal cabinet on July 17, authorizing the Oil and Gas Regulatory Authority (OGRA) to adjust petroleum prices each day in line with fluctuations in the international oil market.
Following the latest revisions, the price of petrol now stands at Rs335.18 per litre, while high-speed diesel costs Rs383.46 per litre across Pakistan.
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