The Pakistani government announced a rise in fuel prices on Friday, increasing petrol by Rs3.66 per litre and high-speed diesel (HSD) by Rs4.80 per litre, effective July 25. The revision reflects the impact of fluctuating global oil prices amid renewed hostilities in the Persian Gulf.
Following the adjustment, petrol now costs Rs335.18 per litre, while HSD stands at Rs383.46 per litre. The government collects Rs110 per litre in taxes on petrol and Rs96 on diesel. These prices have fallen significantly from peaks of Rs458.41 and Rs520.35 on April 3, but remain above pre-crisis levels.
Petroleum Minister Ali Pervaiz Malik stated that fuel prices would now be set daily by the Oil and Gas Regulatory Authority (OGRA) to respond swiftly to international market changes. Previously, weekly revisions were in place since March.
The All Pakistan Dealers Association has rejected the daily pricing mechanism and is considering protest actions. Petrol price changes majorly affect private transport and small vehicles, hitting middle and lower-middle classes, while diesel impacts heavy transport, power generation, and the broader economy.
Article and image source: dawn.com
