Govt increases petrol price by Rs3.05, diesel by Rs5.37

The government on Thursday increased the price of petrol by Rs3.05 per litre and that of high-speed diesel (HSD) by Rs5.37 per litre.

Following the revision, petrol will retail at Rs370.80 per litre while HSD will cost Rs398.04 per litre. The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.

According to the Petroleum Division’s notification, the new prices will be applicable on Sept 11 (Friday).

The price of HSD has come down from a peak of Rs520.35 recorded on April 3. Its price had started rising from Rs281 per litre after the US-Iran war broke out on February 28.

The petrol price had peaked at Rs458.41 on April 3 after beginning its upward trajectory from Rs266 in the first week of March.

On July 17, Petroleum Minister Ali Pervaiz Malik announced that fuel prices would now be fixed on a daily basis due to fluctuations in international market prices following renewed hostilities between Iran........

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