Petrol price unchanged, high-speed diesel raised by Rs2.29

On Friday, the government maintained the price of petrol at Rs377.91 per litre while increasing the price of high-speed diesel by Rs2.29 per litre. The revised price of diesel will now amount to Rs402.96 per litre. This is the second consecutive day the government has left the petrol price unchanged. The price adjustments will be in effect from October 31 to November 2.

Currently, the government imposes a tax of Rs114 per litre on petrol and Rs100 per litre on diesel. Jamaat-i-Islami chief Hafiz Naeemur Rehman met with Prime Minister Shehbaz Sharif to discuss his party's proposal to provide fuel relief to the public. Rehman also threatened to protest in Islamabad if the government did not announce major relief by mid-November.

The Pakistan Petroleum Dealers Association has advised consumers not to panic buy, as excessive purchases could disrupt the market. Concerns have been raised about fuel supply, despite claims by the Minister of State for Finance and Revenue that there are no issues. The government has implemented several austerity measures in response to the rising fuel prices caused by the Middle East conflict.

These measures include restricting market hours to 9pm and cutting fuel allocations for official vehicles by 50 percent for three months. The government announced a relief scheme for users of motorcycles, autos, and vehicles up to 800cc on September 13 to help mitigate the impact of rising global oil prices. Fuel prices are now determined on a daily basis due to fluctuations in international market prices following the renewed hostilities between Iran and the US.