Petrol, diesel prices surged under revised daily rates

WEB DESK: The federal government has updated petroleum prices under the revised daily fuel pricing mechanism, with the new rates coming into effect from midnight.

According to a notification issued on Tuesday, the government has increased the prices of petrol and high-speed diesel under the latest petroleum price adjustment. The new prices will remain applicable until the next revision.

The price of petrol has been increased by Rs1.63 per litre, after which the new petrol price has been fixed at Rs335.81 per litre.

Similarly, the price of high-speed diesel has been raised by Rs1.55 per litre, with the new rate set at Rs388.38 per litre.

According to the notification issued by the Oil and Gas Regulatory Authority (OGRA), the revised prices will remain in force until the next review under the daily fuel pricing mechanism.

The government said it would continue revising petrol and diesel prices on a daily basis as international oil markets remain volatile amid ongoing global developments, including tensions between the United States and Iran.