Petrol price rises by Rs1.20, diesel gets cheaper

Summary

• The government introduced a daily pricing system in July to adjust domestic fuel rates in line with fluctuations in international oil markets.
• As a result, movements in international crude prices and shipping costs can quickly influence domestic fuel rates, adding pressure on household budgets and transportation expenses.
• Further movements in global oil prices are likely to remain a key factor in determining Pakistan’s domestic fuel rates.

AI Generated Summary

The federal government has increased the price of petrol by Rs1.20 per litre while reducing the rate of high-speed diesel (HSD) by 17 paisas for October 15.

Under the latest revision, petrol will cost Rs393.86 per litre, while diesel will be available at Rs396.65 per litre. The new rates come into effect on Thursday under the government’s daily petroleum pricing mechanism.

The latest adjustment follows a reduction in fuel prices a day earlier. On October 14, the government had lowered the price of petrol by Rs2.71 per litre and diesel by three paisas.