The federal government of Pakistan announced on Tuesday an increase in the price of high-speed diesel (HSD) by Rs5 per litre, while keeping the price of petrol unchanged for the next fortnight.
This adjustment, in line with global oil price trends, took effect from October 16, according to an official notification issued by the Finance Division.
The new pricing structure was determined by the Oil and Gas Regulatory Authority (Ogra), which based the rates on fluctuations in the international oil market. “The Oil and Gas Regulatory Authority has worked out the consumer prices of petroleum products, based on the price variations in the international market,” stated the Finance Division.
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Following the adjustment, the price of high-speed diesel increased to Rs251.29 per litre, while petrol prices remain unchanged. The rise in diesel prices is particularly significant for Pakistan’s transport and agricultural sectors, which heavily rely on HSD for operations. Diesel is widely used in trucks, buses, trains, and agricultural machinery, including tractors and tube wells.
The increase in diesel costs is expected to have a broader inflationary impact, particularly on the transportation of goods and agricultural produce, contributing to higher prices for vegetables and other essential food items.
In contrast, petrol, which is used primarily by private vehicles, motorcycles, rickshaws, and small vehicles, remains at its previous price. The stability of petrol prices offers some relief to middle and lower-middle-income consumers, who rely on it for daily commuting.
The fuel price adjustments come as global oil markets experience volatility, prompting the Pakistani government to revise domestic prices accordingly.
