Govt announces 45 paisas increase in petrol, Rs1.16 in HSD price for August 14
The revision follows global oil volatility and keeps heavy transport and power costs under pressure, officials said.
- On Thursday, the Petroleum Division raised petrol prices by Rs0.45 per litre and high-speed diesel by Rs1.16 per litre, effective Friday, August 14. Petrol will retail at Rs325.43 per litre while HSD costs Rs383.95 per litre.
- Following the July 17 implementation of a daily pricing mechanism, the Petroleum Division now aligns domestic rates with international market fluctuations. This policy addresses renewed hostilities in the Middle East and global oil price volatility affecting Pakistan.
- Petroleum products constitute one of Pakistan's largest import categories, leaving the economy vulnerable to global crude price changes. The government continues to levy Rs114 per litre in taxes on petrol and Rs100 per litre on diesel.
- HSD price hikes impact the heavy transport sector and power plants, while petrol price changes affect private transport and lower-middle classes. The All Pakistan Dealers Association rejected the daily pricing decision, considering a potential protest.
- Geopolitical risks in the Middle East, including OPEC+ decisions and potential disruptions in the Strait of Hormuz or Red Sea, threaten supply chains. Any supply interruption could further increase crude oil prices and freight costs for Pakistan.
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Pakistan Government Hikes Petrol, High-speed Diesel Prices
Get latest articles and stories on World at LatestLY. Petrol prices have been raised by Rs 0.45 per litre to Rs 325.43 per litre, while HSD prices have gone up by Rs 1.16 per litre to Rs 383.95 per litre. World News | Pakistan Government Hikes Petrol, High-speed Diesel Prices.
Govt announces 45 paisas increase in petrol, Rs1.16 in HSD price for August 14
The federal government on Thursday increased the price of petrol and high-speed diesel (HSD) by 45 paisas and Rs1.16 per litre, respectively, for August 14. According to a notification issued by the Ministry of Petroleum, the price of petrol was fixed at Rs325.43 per litre, while HSD would now cost Rs383.95 per litre. The latest revision comes a day after the government decreased the price of petrol by 94 paisas while hiking the price of HSD by …
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