Petrol price jumps by Rs12.90, HSD rises Rs3.72 per litre

The federal government has sharply increased petrol prices, raising the cost of petrol by Rs12.90 per litre for September 8.

The price of high-speed diesel (HSD) has also been increased by Rs3.72 per litre.

According to the Petroleum Division’s notification, petrol will now cost Rs358.77 per litre, while HSD has been fixed at Rs381.77 per litre.

The latest increase comes just days after the government reduced petrol prices by Rs3.13 per litre but raised the price of HSD by Rs3.74 for the September 5–7 period.

Daily fuel pricing

The government introduced a new petroleum pricing mechanism in July, replacing the previous weekly system with daily reviews and notifications.

The move came amid heightened volatility in international oil markets linked to renewed tensions between the United States and Iran and growing concerns over regional fuel supplies.

Pakistan remains highly exposed to international oil price movements because petroleum products account for a major share of the country’s imports.

According to the Pakistan Economic Survey 2024-25, domestic refineries meet only part of national demand, with the remaining requirement covered through imports of crude oil and refined petroleum products.

As a result, higher global oil prices increase Pakistan’s import bill, put pressure on foreign exchange reserves and contribute to domestic inflation.