The federal government has increased petroleum prices for the fourth consecutive day in view of rising crude oil prices in the international market, pushing both petrol and high-speed diesel to new record levels.
According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs4.40 per litre for July 24, taking the new price to Rs331.52 per litre.
Similarly, the price of high-speed diesel (HSD) has been raised by Rs3.62 per litre, bringing its new price to Rs378.66 per litre.
Under the government’s new daily fuel pricing mechanism, this is the fourth consecutive increase. Over the past four days, petrol has become Rs22.23 per litre more expensive, while high-speed diesel has increased by Rs34.31 per litre.
The government says that escalating tensions between the United States and Iran have led to a sustained rise in global crude oil prices, the impact of which is also being reflected in Pakistan’s petroleum prices.
On July 23, the government had increased petrol prices by Rs6.39 per litre and high-speed diesel by Rs7.83 per litre. Earlier, on July 21, petrol was raised by Rs4.93 per litre, while diesel went up by Rs7.15 per litre.
Before that, on July 20, petrol prices were reduced by 35 paisas per litre, although diesel became Rs5.71 per litre more expensive on the same day.
On July 17, the government had increased petrol prices by Rs5.44 per litre and high-speed diesel by Rs31.05 per litre. Earlier, on July 10, petrol had become Rs13.18 per litre more expensive, while diesel prices were increased by Rs13.80 per litre.
Following these successive hikes, concerns are being raised that transport fares, food items, and the prices of other essential commodities may increase further.
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