Govt jacks up petrol price by Rs1.63, diesel by Rs1.55 per litre

The federal government has increased the prices of petrol and high-speed diesel (HSD), citing fluctuations in global oil markets.

According to a notification issued by the Petroleum Division, the price of petrol has been increased by Rs1.63 per litre, taking the new rate to Rs335.81 per litre. The price of high-speed diesel has risen by Rs1.55 per litre to Rs388.38 per litre. The revised prices take effect from July 29.

The government is currently charging Rs110 per litre in taxes and duties on petrol and Rs96 per litre on high-speed diesel.

Diesel prices have declined significantly from their peak of Rs520.35 per litre recorded on April 3, after rising from Rs281 per litre following the outbreak of the US-Iran conflict on February 28.

Similarly, petrol prices had reached a high of Rs458.41 per litre on April 3, after climbing from Rs266 per litre in the first week of March.