Pakistan's government has raised the price of high-speed diesel by Rs1.91 per litre to Rs393.66, while keeping petrol unchanged at Rs377.71 per litre. According to the Petroleum Division's notification, the new prices apply from Saturday, October 24, to Monday, October 26.
The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 on diesel. Diesel powers heavy transport, power plants and large generators, so even small increases feed into freight and the cost of everyday goods. Petrol is mainly used in private cars, rickshaws and motorcycles, and its price weighs most on middle- and lower-middle-income households.
According to sources, diesel cost Rs281 per litre before the US-Iran war broke out on February 28 and peaked at Rs520.35 on April 3. Petrol hit a high of Rs458.41 the same day, up from Rs266 in the first week of March.
Petroleum Minister Ali Pervaiz Malik announced on July 17 that prices would be set daily, with the Oil and Gas Regulatory Authority responsible, because of swings in global markets. The government has also brought back austerity measures in response to the Middle East conflict, requiring markets to close by 9pm and cutting fuel allocations for official vehicles by 50 per cent for three months.