The federal government has increased the price of petrol by Re0.88 per litre and High-Speed Diesel (HSD) by Re0.53 per litre, while international oil prices gained more than $1 on Wednesday amid concerns over supply disruptions in the Middle East.
Following the revision, petrol will cost Rs382.02 per litre and HSD will sell at Rs389.80 per litre. The Petroleum Division’s notification states that the revised rates will take effect on October 21.
International oil prices rose as escalating tensions in the Middle East raised concerns about possible supply disruptions
Brent crude futures climbed $1.59, or 1.5 percent, to $110.38 per barrel, while United States (US) West Texas Intermediate (WTI) crude gained $1.36, or 1.4 percent, to $99.18 per barrel.
The government continues to collect Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
Despite the latest increase, both fuels remain below the peaks they reached on April 3. HSD climbed to Rs520.35 per litre after its price began rising from Rs281 following the outbreak of the US-Iran war on February 28.
Petrol also recorded an increase from Rs266 in the first week of March before reaching Rs458.41 per litre on April 3.
The government has also reinstated austerity measures to conserve fuel amid rising prices and the ongoing conflict in the Middle East. These measures require markets to close by 9pm and reduce fuel allocations for official vehicles by 50 percent for three months.
On September 13, Prime Minister (PM) Shehbaz Sharif announced a relief scheme for motorcycle users, auto-rickshaw operators and owners of vehicles with engine capacities of up to 800cc to ease the impact of rising global oil prices.
Petrol remains a key fuel for private transport, small vehicles, rickshaws and motorcycles, making price changes particularly relevant to middle- and lower-middle-income households. Diesel, meanwhile, serves the heavy transport sector, power plants and large generators, linking its price to transport and energy costs.
Petrol and HSD generate the bulk of petroleum sales revenue, with monthly sales ranging from 700,000 to 800,000 tonnes. In comparison, monthly demand for kerosene stands at around 10,000 tonnes.
