Govt raises high-speed diesel rate by Rs1.91 per litre; petrol price unchanged at Rs377.71

The government raised the price of high-speed diesel by Rs1.91 per litre on Friday, keeping petrol unchanged at Rs377.71. From October 24 to October 26, the new prices will take effect. For petrol and diesel, the government levies taxes and duties of Rs114 and Rs100 per litre, respectively. The new diesel price is Rs393.66 per litre, down from a peak of Rs520.35 in April.

Diesel prices began rising after the US-Iran war started on February 28. Petrol prices peaked at Rs458.41 on April 3. In response to the Middle East conflict, the government has implemented austerity measures, including a market closure at 9pm and a 50% reduction in fuel allocation for official vehicles for three months. On September 13, Prime Minister Shehbaz Sharif introduced a relief scheme for motorcycles, autos, and vehicles up to 800cc to ease the burden of rising global oil prices. Daily fuel price fixes have been announced due to international market fluctuations since July 17.