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Second Consecutive Daily Increase
The federal government has increased the prices of petrol and high-speed diesel (HSD) for the second time in two days, with petrol becoming Rs5.58 per litre more expensive and diesel witnessing a Rs4.18 per litre hike.
According to the latest price revision, the price of petrol has been increased from Rs358.77 to Rs364.35 per litre. Similarly, the price of high-speed diesel has risen from Rs381.77 to Rs385.95 per litre.
Back-to-Back Increases
The fresh increase comes a day after the government raised petrol prices by Rs12.90 per litre and HSD prices by Rs3.72 per litre. This marks the second consecutive daily increase in fuel prices, driven by volatile global oil markets amid the US-Iran conflict.
Brent crude has crossed $96 per barrel amid geopolitical risks in the Middle East, raising concerns about global supply disruptions. The rupee’s slight depreciation against the dollar has further contributed to domestic price pressures. The government also continues to charge Rs114 per litre in taxes on petrol and Rs100 per litre in taxes and duties on HSD.
Repeated Revisions Burden Consumers
The government approved the revised prices following an updated notification issued by the Oil and Gas Regulatory Authority (OGRA). The latest increase comes amid frequent changes in petroleum prices, which are directly linked to fluctuations in international oil prices.
The repeated revisions in petrol and diesel prices have placed an additional burden on consumers, with the price of petrol crossing the Rs364 mark for the first time in recent weeks. Diesel, widely used in the transport and agriculture sectors, has also risen to nearly Rs386 per litre.
