Petrol hits Rs384.34, diesel reaches Rs415.83 per litre

– The PML-N-led federal government has increased the prices of petrol and high speed diesel (HSD) by Rs 4.10 and Rs 6.41 per liter respectively under the daily fuel pricing mechanism introduced in the country recently.

According to a notification issued by the Petroleum Department, the revised rates will come into effect from September 16, with petrol now priced at Rs 384.34 per liter and HSD at Rs 415.83 per liter. This recent increase comes against a backdrop of fluctuations in international oil markets and new tensions in the Middle East, which continue to impact global energy flows.

The Oil and Gas Regulatory Authority (Ogra) has also started publishing daily crude oil prices on its website as part of efforts to increase transparency and ensure that international oil price fluctuations are more quickly reflected in domestic prices. Petroleum Minister Ali Pervaiz Malik said the daily price is calculated based on the seven-day average price in the international market, which is in line with international practice.

The government had previously followed a two-week pricing cycle, but moved to weekly reviews in the wake of the escalating conflict in the Middle East.