The government on Friday increased the price of petrol by Rs5.44 per litre and that of high-speed diesel (HSD) by Rs31.05.
Following the increase, the price of petrol stands at Rs316.15 per litre and that of HSD at Rs354.35.
The Petroleum Division’s press release notifying the increase said the new prices would be effective from July 18 (Saturday).
Earlier today, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be fixed on a daily basis due to fluctuations in international market prices following renewed hostilities between Iran and the US.
The government had been announcing weekly revisions to fuel prices since early March, alongside measures for the conservation of fuel amid possible oil supply disruptions due to the ongoing conflict in the Middle East. The federal government in April also announced targeted relief measures to provide subsidised fuel.
