ISLAMABAD: The federal government has once again increased the prices of petrol and high-speed diesel, marking the second consecutive increase amid continued volatility in international oil markets.
According to a notification issued by the Petroleum Division, the new prices will remain effective for two days, August 26 and 27, following recommendations based on the pricing mechanism determined by the Oil and Gas Regulatory Authority (OGRA).
The price of petrol has been increased by Rs1.12 per litre, taking it from Rs341.98 to Rs343.10 per litre.
Similarly, the price of high-speed diesel (HSD) has been raised by Rs1.11 per litre, increasing from Rs370.69 to Rs371.80 per litre.
The revised prices took effect from midnight and will remain applicable through Wednesday and Thursday, August 26 and 27.
The government has adopted a system of determining petroleum prices on a daily basis in response to the prevailing situation in the Middle East. However, no price revisions are made on Saturdays and Sundays, with existing prices remaining unchanged over the weekend.
Since July 17, petrol prices have been reduced 10 times but increased 15 times, while HSD prices have witnessed seven reductions and 18 increases during the same period.
A day earlier, on August 24, the government had increased the price of petrol by 39 paisa per litre and HSD by Rs2.40 per litre, taking their prices to Rs341.98 and Rs370.69, respectively.
Earlier, on August 21, the government had announced another increase for the three-day period ending August 24. Petrol was increased by Rs3.81 per litre to Rs341.59, while HSD rose by Rs3.59 per litre to Rs368.29.
The latest increase adds further pressure on consumers and transport costs as the government continues to adjust domestic fuel prices in response to fluctuations in global oil markets.
