ISLAMABAD: The federal government on Friday announced another increase in petrol and diesel prices by Rs3.66 and Rs4.80 per litre, respectively, citing fluctuations in global oil markets.
Under the revised rates, petrol will now sell at Rs335.18 per litre, while the price of diesel has been fixed at Rs383.46 per litre. According to the Petroleum Division, the new prices will remain effective for the next three days. The government is currently collecting Rs110 per litre in taxes and duties on petrol and Rs96 per litre on high-speed diesel.
The latest adjustment follows the introduction of a daily fuel pricing mechanism announced by Petroleum Minister Ali Pervaiz Malik, who said the move was prompted by heightened volatility in international oil prices. Under the new system, the Oil and Gas Regulatory Authority (OGRA) will determine fuel prices on a daily basis based on global market trends.
Read also: Transporters threaten nationwide protests unless fuel price hike is withdrawn
