Islamabad: Federal government has raised petrol price again after one day cutting after further raising the price of high speed diesel. The new prices will be charged from today (29th July).
The price of petrol has been hiked up by Rs 1.63 per litre and high-speed diesel has been made costly by Rs 1.55 per litre, according to a notification issued by the Petroleum Division. These prices will only apply from 29th of July.
In view of the recent regional situation and the changes in the global oil market, the Government has decided to fix prices of petroleum products on a day-to-day basis. With the new policy, OGRA will be announcing prices daily, which will no longer require the Prime Minister or the federal cabinet’s approval.
The hike comes at a time when the government had cut the price of petrol by Rs 1 per litre on July 28, while the high speed diesel (HSD) price rose by Rs 3.37 per litre on the same date.
The government’s policy on daily pricing is to inform the domestic market of the price movements of crude oil in the international market as soon as possible and to maintain the price of the fuel in the market within the international price trend.
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