Islamabad: The federal government increased petrol and high speed diesel prices for Thursday, October 29, with diesel now costing nearly Rs 400 per litre.
According to a Petroleum Division notification, petrol rose by Rs 1.85 per litre, from Rs 376.06 to Rs 377.91.
The price of high speed diesel increased by Rs 1.75 per litre, from Rs 398.07 to Rs 399.82.
Daily pricing mechanism
The latest revision falls under the government's daily petroleum pricing system, introduced to reflect fluctuations in international oil markets more promptly.
Under the revised framework, the Oil and Gas Regulatory Authority (OGRA) calculates fuel prices based on a rolling seven day average of international market rates.
The Petroleum Division attributed the latest adjustments to changes in global petroleum benchmarks, premiums and other associated charges.
Rising fuel costs add pressure on consumers
The latest increase adds to fuel expenses for motorists, transport operators and businesses.
Diesel prices are particularly significant for Pakistan's transport and agricultural sectors, where higher fuel costs can affect freight charges, production expenses and the prices of essential goods.
The revised arrangement is intended to strengthen fuel supply management and improve operational oversight between the two companies.
