After another hike this week, the price of petrol in Pakistan has reached close to Rs 350.

Another blow for Pakistanis as Ogra hiked petrol and high speed diesel (HSD) prices, putting fresh pressure on motorists, transporters and household budgets.

For September 4, petrol price has been increased by Rs 2.84 per litre, from Rs 346.16 to Rs 349.00, while HSD has gone up by Rs 2.28 per litre, from Rs 372.03 to Rs 374.31.

The revised rates will be applicable from Friday, September 4, following the latest notification issued by the Ministry of Energy’s Petroleum Division following a price review by OGRA.

The latest increase comes just a day after another upward adjustment. On September 3, petrol rose by Rs 2.29 per litre, while diesel rose by Rs 1.11 to Rs 346.16 and Rs 372.03 respectively.

This amendment is linked to fluctuations in international oil markets and other prices included in Pakistan’s petroleum pricing mechanism.

Global crude oil prices have recently come under renewed pressure as geopolitical tensions in the Middle East fuel concerns over potential oil supply disruptions. Brent crude was trading around $97.29 a barrel on Thursday, while US West Texas Intermediate was around $93.04.

Pakistan is particularly affected by the international movement of oil as a major part of its petroleum needs is met by imports.

From July 17, petroleum prices are subject to daily reviews instead of the previous weekly adjustment system. The change was introduced amid heightened volatility in international oil markets following the US-Iran tensions.

The post After another increase this week, the price of petrol in Pakistan reached close to 350 rupees appeared first on Daily Pakistan English News.

Stay updated with the latest alerts on this story:
View Original Coverage