Petrol Price Hiked by Rs1.08, HSD by 51 Paisas as Global Oil Market Volatility Continues
The Pakistani government has increased the price of petrol by Rs1.08 and high-speed diesel (HSD) by 51 paisas per litre, effective from September 2.
According to a notification issued by the Petroleum Division, petrol will now cost Rs343.87 per litre, while HSD will be priced at Rs370.92 per litre for the next day.
This price revision comes on the heels of another announcement made yesterday, which increased the price of petrol by 77 paisas and decreased the price of HSD by Rs1.03 per litre for September 1.
The government's new pricing mechanism, introduced on July 17, reviews and notifies petroleum product prices on a daily basis, replacing the weekly pricing mechanism. This change is in response to the global oil market volatility caused by tensions between the US and Iran.