Petrol price increased while diesel becomes cheaper in Pakistan

The government has revised the prices of petroleum products increasing the cost of petrol while reducing the price of high-speed diesel.

The government has revised the prices of petroleum products increasing the cost of petrol while reducing the price of high-speed diesel.

According to an official notification the price of diesel has been cut by Rs1.91 per litre while petrol has become Rs1.19 per litre more expensive.

Following the latest adjustment, diesel will now be sold at Rs395.85 per litre while the new petrol price has been set at Rs394.83 per litre.

The revised rates have been announced for October 7 with the government making adjustments based on recommendations concerning petroleum product prices.

According to the Petroleum Division, the Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices of petroleum products for October 7. The changes are linked to movements in international crude oil and refined petroleum markets.

The latest adjustment means the price gap between petrol and diesel has narrowed further with diesel remaining slightly more expensive per litre despite the reduction in its price.

Petroleum prices are closely watched by consumers and businesses because changes in fuel costs can affect transportation expenses, freight charges and the prices of goods and services.

The government’s decision to increase petrol prices while lowering the diesel rate is expected to have a different impact on motorists and commercial transport operators depending on their fuel usage.

Petrol is widely used by private vehicle owners and motorcyclists while diesel remains an important fuel for buses, trucks, heavy vehicles and other commercial transport.

The revised rates will apply from October 7 under the latest notification. Future changes in domestic fuel prices are expected to remain dependent on international market trends, currency movements and other factors used in determining petroleum prices.

The latest decision comes as consumers continue to closely monitor fuel prices because of their direct and indirect impact on household budgets, transportation costs and overall inflation.