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Prices Adjusted in Daily Revision
The federal government has increased the prices of petrol and high-speed diesel (HSD), with the revised rates taking effect after a notification was issued late Thursday.
The price of HSD has been raised by Rs1.64 per litre, taking it to Rs364.70 per litre. Petrol has become 27 paisas per litre more expensive, with its new price fixed at Rs337.78 per litre.
The revised rates were notified by the Oil and Gas Regulatory Authority (OGRA). The government said the updated prices are effective until tomorrow.
Context of Price Change
The latest increase comes a day after the government announced a major cut in the price of HSD while raising the petrol rate. On Wednesday evening, the price of diesel was reduced by Rs32.63 per litre, bringing it down to Rs363.06 per litre before Thursday’s adjustment.
Daily Pricing Mechanism
The government has been revising petroleum prices daily under a mechanism introduced amid volatility in global oil rates following the Middle East conflict. OGRA publishes daily ex-depot prices for petrol and HSD based on a seven-day average of international market prices, without requiring prior government approval.
