Islamabad – The prices of petroleum products in the country have been increased once again, after which consumers will have to pay more to buy petrol and high-speed diesel. According to a notification issued by the Petroleum Division, the price of petrol per litre has been increased by Rs 3.81 per litre.
After the increase, the new price of petrol has been fixed at Rs 341.59 per litre. Similarly, high-speed diesel has also been made expensive by Rs 3.59 per litre, after which its new price has reached Rs 368.29 per litre.
According to officials, the new prices will be applicable from 12 midnight, and the current rates will remain in effect until August 24. The notification of the price change has been issued after the cabinet approval.
On the other hand, the government has also increased the dealers’ margin of petrol and diesel. The margin per litre on both products has been increased by Rs 1.34. After this decision, the dealers’ margin on petrol and high-speed diesel has become Rs 9.98 per litre.
Earlier, dealers were being given a margin of Rs 8.64 per litre. With the new decision, petrol pump dealers will get a higher margin on each litre sold than before. The Economic Coordination Committee approved this increase after considering the summary of the Petroleum Division.
The issue of increasing the dealers’ margin came to light at a time when petrol pump owners had called for a nationwide strike in favour of their demands. After the government approved the increase in the margin, the threat of a strike was averted.
It is important for consumers that the dealer margin is only a part of the total price of petroleum products. The price of crude oil in the global market, the value of the rupee against the dollar, taxes, levies and other factors also play a role in determining the final price.
