Fuel Prices Rise: Petrol Up by Rs0.27, Diesel by Rs1.64

The government has announced a hike in fuel prices, with petrol increasing by Rs0.27 per litre and high-speed diesel (HSD) by Rs1.64. The new prices will take effect on August 21, bringing petrol to Rs337.78 per litre and HSD to Rs364.70 per litre.

Taxation remains significant, with Rs114 per litre on petrol and Rs100 on diesel. This adjustment comes after HSD prices peaked at Rs520.35 in April, while petrol reached a high of Rs458.41.

Petroleum Minister Ali Pervaiz Malik revealed that moving forward, fuel prices will be set daily to reflect international market fluctuations, a change prompted by ongoing tensions in the Middle East. The decision aims to provide timely adjustments that consider the impacts on the economy, especially for the middle and lower-middle classes reliant on these fuels.

Source: www.dawn.com