Government Announces Fresh Hike in Petroleum Prices as High-Speed Diesel Crosses Rs403 and Petrol Reaches Rs375.82 per Liter
ISLAMABAD: Domestic petrol prices have once again been raised across the country by the federal government and the Oil and Gas Regulatory Authority (OGRA), pushing the prices to new heights.
The price of petrol has been hiked by Rs5.02 per litre, making the new retail price Rs375.82 per litre, according to an official notification from the Petroleum Division.
Likewise, there was also an upward adjustment in the price of high-speed diesel, which increased by Rs5.28 per litre. The current revision of the price of high-speed diesel is Rs403.32 per litre.
The official notification indicates that the revised petroleum prices will only stay in effect for three days from September 12 to September 14.
The surges have been continuing for a few weeks, and analysts note the frequency of revisions has been substantial, greatly driving up fuel inflation.
The price of petrol has jumped by by Rs29.95 per litre and that of high speed diesel has jumped by by Rs25.27 per litre in the last 5 days.
On the broader canvas of the last one and a half months, petrol has risen by Rs60.02 per litre while diesel prices have jumped by Rs43.32 per litre since July 21, due to fluctuations in global energy markets.