Petrol prices rise by Rs59, diesel up by Rs32 in Pakistan

The latest increase has added to pressure on transport and essential goods.

Petrol and diesel prices climb

According to available figures, petrol was priced at Rs325.43 per litre on August 14, while high-speed diesel was Rs383.95 per litre. Compared with the latest rates, petrol has become around Rs59 more expensive and diesel around Rs32 costlier in one month.

Fuel prices have risen rapidly over the past few days. On September 15, petrol was increased by Rs4.42 to Rs380.24 per litre, while high-speed diesel rose by Rs6.10 to Rs409.42.

Global oil prices drive changes

Officials say fuel prices are set after considering crude oil rates in the international market and average prices over the previous seven days. The Oil and Gas Regulatory Authority (OGRA) reviews petrol and high-speed diesel prices, passing changes in global oil prices to local consumers.

The latest increase has also raised concerns about higher transport costs and the prices of essential goods. Goods transporters had recently announced higher freight charges because of rising diesel prices.

Fresh fuel hike adds to pressure

The federal government has again increased petroleum product prices, taking petrol to Rs384.34 per litre and high-speed diesel to Rs415.83 per litre. The Petroleum Division said petrol was increased by Rs4.10 and high-speed diesel by Rs6.41 per litre.

The new prices took effect from today. The government has adopted a mechanism of reviewing petroleum prices regularly, allowing changes in international oil markets to affect domestic rates.

Fuel relief scheme announced

Prime Minister Shehbaz Sharif has also announced a special petrol relief scheme offering Rs100 per litre to motorcycle riders, rickshaw and Qingqi users, and owners of vehicles up to 800cc. The government says the scheme is aimed at reducing the impact of rising petrol prices on people with limited incomes.

Registration and other arrangements for implementing the fuel relief scheme are being made across the country. The scheme comes as repeated fuel price increases continue to put pressure on household and transport expenses.

The latest figures show that fuel prices have risen sharply within a short period. Higher fuel costs can increase transport expenses and may also add pressure to the prices of goods moved by road.

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