Motorists woke up to higher fuel prices on Tuesday, after the federal government raised petrol by Rs 1.54 a litre and high-speed diesel (HSD) by Rs 2.16 a litre with effect from October 27.
Petrol now costs Rs 379.25 a litre, up from Rs 377.71, while diesel has risen from Rs 393.66 to Rs 395.82, according to a notification from the Petroleum Division. The Oil and Gas Regulatory Authority (OGRA) revised the ex-depot prices under the federal government’s pricing mechanism, citing movements in international benchmarks, including Platts rates, premiums and incidental charges. The benchmark price of refined petrol climbed to $118.41 a barrel from $117.52, while diesel’s benchmark edged up to $110.58.
Government levies on both fuels are unchanged: a petroleum levy of Rs 80 a litre, a climate support levy of Rs 5, dealer margins of Rs 9.98 and oil marketing company margins of Rs 7.87.
The increase lands hardest through diesel. Diesel powers public transport, goods carriers and farm machinery, so any rise in freight costs tends to feed through to the prices of essential goods if transporters pass it on. Petrol, used mostly by private cars and motorcycles, hits household budgets directly.
The revision follows a smaller move on Friday, when diesel rose Rs 1.91 a litre and petrol was left unchanged. Since July 17, prices have been reviewed daily rather than weekly, a shift the government linked to volatility in world oil markets as tensions between the United States and Iran persist.
Alongside the price rise, the government has revived austerity steps reported by Dawn: commercial markets are to close by 9 pm, and fuel allocations for official vehicles have been cut by half for three months. A relief scheme announced on September 13 still offers Rs 100 a litre off petrol for motorcycles, three-wheelers and cars up to 800cc, capped at 20 litres a month for two- and three-wheelers and 30 litres for small cars.
Sources: Business Recorder, The Nation, Express Tribune, Dawn (via Tribune India), Aaj English.
