ISLAMABAD: Petrol and diesel prices have been increased in Pakistan, with the new rates taking effect from August 26, according to a notification issued by the Oil and Gas Regulatory Authority (OGRA).
The price of petrol has gone up by Rs1.12 per litre, taking the new rate to Rs343.10 per litre. Meanwhile, the price of High-Speed Diesel (HSD) has increased by Rs1.11 per litre, reaching Rs371.80 per litre.
According to the notification, the revised petroleum product prices will remain applicable for August 26 and 27.
The latest increase comes after the Economic Coordination Committee (ECC) approved a rise in the dealers’ margin on petrol and diesel. The margin was increased by Rs1.34 per litre, from Rs8.64 to Rs9.98 per litre.
The decision was taken to address the demands of fuel station operators. Prime Minister Shehbaz Sharif was briefed on the proposal and supported the increase.
The ECC meeting was chaired by Finance Minister Muhammad Aurangzeb and was held virtually at the Ministry of Finance.
The government’s decision also follows negotiations with the Pakistan Petroleum Dealers Association (PPDA), which had announced plans for a nationwide strike on August 15 over the dealers’ margin.
Following assurances from the government, the association postponed the strike and confirmed that petrol stations across the country would remain operational.
The latest increase is expected to add further pressure on motorists and transport operators already facing higher fuel and operating costs.
