The federal government has increased the price of petrol by Rs12.90 per litre and high-speed diesel (HSD) by Rs3.72 per litre amid continued volatility in international oil markets.
Under the revised rates, petrol will now cost Rs358.77 per litre, while high-speed diesel will be sold at Rs381.77 per litre. The new prices took effect from Tuesday, September 8, according to a Petroleum Division notification.
The government continues to impose Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel. The latest changes come under the government’s daily petroleum pricing mechanism, which was introduced to respond more quickly to fluctuations in international oil prices.
The increase comes as global oil prices have climbed to their highest level in around six weeks. Brent crude settled at $97.31 a barrel on Monday after reaching an intraday high of about $98.06, with rising tensions between the United States and Iran raising concerns about further disruptions to regional energy supplies.
Iran has warned that regional energy infrastructure could be targeted in response to further US attacks, adding to concerns over oil supplies and shipping through the strategically important Strait of Hormuz. The renewed tensions have contributed to a sharp rise in global oil prices and increased pressure on fuel markets.
