Govt increases petrol price by Rs2.29, HSD by Rs1.11 per litre for Sept 3

The federal government raised the price of petrol and high-speed diesel (HSD) by Rs2.29 and Rs1.11 per liter, respectively, for September 3, Wednesday.

"The price of petrol has been set at Rs346.16 per liter while the price of HSD has been fixed at Rs372.03 per liter for September 3," said a notification issued by the Petroleum Division.

The last price hike came just a day before the government raised the price of petrol and HSD by Rs1.08 and 51 paisas per liter, respectively, for September 2.

On July 17, the government announced a new pricing mechanism under which petroleum product prices would be reviewed and notified on a daily basis, replacing the weekly pricing mechanism, as renewed tensions between the United States and Iran continued to drive volatility in global oil markets and raise concerns over fuel supplies.