Petrol hits Rs341.98, diesel Rs370.69

The federal government has increased the prices of petrol and high-speed diesel once again, adding further pressure

The federal government has increased the prices of petrol and high-speed diesel once again, adding further pressure on consumers and transport operators.

The Oil and Gas Regulatory Authority (OGRA) has issued a notification announcing the latest adjustment in petroleum prices. The revised rates will take effect from August 25.

According to the notification, the price of petrol has been increased by 39 paisas per litre. After the latest increase, petrol will now cost Rs341.98 per litre.

The government has also raised the price of high-speed diesel by Rs2.40 per litre. The new price of diesel has been fixed at Rs370.69 per litre.

The latest increase is expected to affect motorists, transporters and businesses that rely heavily on petroleum products. Petrol is widely used by private vehicles and motorcycles, while diesel is extensively used by commercial and heavy transport.

Higher fuel prices can also increase transportation costs. This can have an impact on the prices of goods and services because businesses may face higher expenses for moving products across the country.

The increase comes as petroleum prices remain at elevated levels. Consumers are already facing pressure from higher living costs, and the latest adjustment could add to household expenses.

With the new rates, petrol has moved closer to the Rs342-per-litre mark, while diesel has crossed Rs370 per litre.

OGRA periodically reviews petroleum prices based on relevant pricing factors before issuing revised rates. The latest notification formally puts the new petrol and diesel prices into effect from August 25.