Petrol price rises by Rs2.10, diesel by 30 paisa

The government has increased petrol and high-speed diesel (HSD) prices for the next three days, with the revised rates taking effect from October 3.

Petrol has become Rs2.10 per litre more expensive, taking its price to Rs392.76 per litre. The price of HSD has also been raised by 30 paisa to Rs399.64 per litre.

The revised prices will remain applicable until October 5. The government is currently collecting Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.

Fuel prices have remained volatile amid fluctuations in international oil markets and the ongoing conflict in the Middle East. HSD had reached a peak of Rs520.35 per litre on April 3, after rising from around Rs281 when the US-Iran conflict began in late February.

Petrol also climbed sharply during the same period, reaching Rs458.41 per litre on April 3 from around Rs266 in the first week of March.

Meanwhile, the government has introduced additional austerity measures to reduce fuel consumption. Markets have been directed to close by 9pm, while fuel allocations for official vehicles have been reduced by 50 per cent for three months.

The government has also been implementing a fuel relief scheme for owners of motorcycles, rickshaws and vehicles with engines up to 800cc. Officials said around 7.60 million people had registered under the scheme, while more than 7.71 million fuel tokens had been redeemed.

Pakistan shifted to more frequent fuel price adjustments earlier this year in response to fluctuations in international oil prices. The government later assigned the Oil and Gas Regulatory Authority (Ogra) responsibility for determining prices based on international market movements.