ISLAMABAD (Web Desk) – Petrol and diesel prices have surged sharply within a week under Pakistan's newly introduced daily petroleum pricing mechanism, with petrol increasing by Rs20.81 per litre and diesel by Rs55.36 per litre so far.
According to the Petroleum Division, petrol was increased by Rs5.44 per litre and diesel by Rs31.05 per litre from July 18 under the revised pricing system.
On July 21, petrol prices were reduced by 35 paisas per litre, while diesel prices were increased by Rs5.71 per litre.
For July 22, petrol prices were raised by Rs4.93 per litre and diesel by Rs7.15 per litre. A day later, on July 23, petrol was increased by Rs6.39 per litre, while diesel became Rs7.83 per litre more expensive.
Fuel prices were revised upward again on July 24, with petrol increasing by Rs4.40 per litre and diesel by Rs3.62 per litre.
The federal cabinet had decided on July 17 to introduce daily pricing of petroleum products, authorizing the Oil and Gas Regulatory Authority (OGRA) to determine fuel prices every day in line with international market trends.
Following the latest revision, petrol is now priced at Rs335.18 per litre, while diesel is being sold at Rs383.46 per litre.