Fuel prices rise sharply under Pakistan's new daily pricing system.
Petrol prices in Pakistan have risen sharply since the government introduced a daily fuel pricing mechanism. Within a week, petrol has become Rs20.81 per litre more expensive, while diesel has increased by Rs55.36 per litre.
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According to the Petroleum Division, authorities raised petrol by Rs5.44 per litre and diesel by Rs31.05 per litre on July 18 under the new pricing system.
On July 21, officials reduced petrol prices by 35 paisas per litre. However, they increased diesel by Rs5.71 per litre.
The government raised prices again on July 22. Petrol went up by Rs4.93 per litre, while diesel increased by Rs7.15 per litre.
On July 23, petrol became Rs6.39 per litre more expensive. Diesel also rose by Rs7.83 per litre.
Authorities continued the upward trend on July 24. They increased petrol by Rs4.40 per litre and diesel by Rs3.62 per litre.
The federal cabinet approved the daily petroleum pricing system on July 17. It also authorised the Oil and Gas Regulatory Authority (OGRA) to revise fuel prices every day in line with international market trends.
Following the latest revision, petrol now costs Rs335.18 per litre. Meanwhile, diesel is selling for Rs383.46 per litre.
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