ISLAMABAD: Petrol has become dearer again, with the government raising its price by Rs1.20 a litre in the latest daily revision, while high-speed diesel has become marginally cheaper.
Under the new rates, which took effect on Thursday, October 15, a litre of petrol now costs Rs393.86, up from Rs392.66. Diesel, meanwhile, has eased by 17 paisa to Rs396.65 a litre, against Rs396.82 previously.
The Oil and Gas Regulatory Authority issued the revised ex-depot prices on the Petroleum Division’s instructions, under the federal government’s daily pricing mechanism. The division said the adjustment reflected movements in international markets, including Platts benchmark rates, premiums and incidental costs.
The increase follows a cut only a day earlier. On October 14, petrol had been reduced by Rs2.71 a litre and diesel by three paisa, so Thursday’s revision partly reverses that relief for petrol users.
Pakistan now revises fuel prices every day. The system, introduced in July, sets pump prices from the average of international market rates over the previous seven days. Prices announced on Fridays stay unchanged over the weekend, and the regulator can publish the daily rates without fresh approval from the prime minister.
Petroleum Minister Ali Pervaiz Malik has said the daily system brings domestic prices in line with international practice and passes global changes to consumers more quickly.
Global oil markets have been unsettled by renewed fighting in the Middle East. Brent crude traded near $105.56 a barrel on Wednesday, while US West Texas Intermediate stood at about $95.39, after an attack on Saudi Aramco’s headquarters and fresh threats to shipping in the Strait of Hormuz.
For motorists and transporters, the latest change adds a small but fresh burden. Fuel costs feed directly into fares and the prices of goods, so even modest revisions are felt quickly by households already managing tight budgets.
