The government on Wednesday increased the price of petrol by Rs4.45 per liter while reducing the price of high-speed diesel (HSD) by Rs2 per liter.
According to a notification issued by the Petroleum Division, the new prices will take effect from August 6.
Under the revised rates, petrol will now retail at Rs333.01 per liter, while HSD will be available at Rs383.86 per liter.
The government continues to impose Rs110 per liter in taxes and duties on petrol and Rs96 per liter on diesel.
The latest revision comes after the government had reduced fuel prices in the previous review.
Petrol was cut by Rs3.39 per liter to Rs328.56, while HSD was reduced by Rs4.07 per liter to Rs385.86. The applicable taxes and duties remained unchanged at Rs110 per liter on petrol and Rs96 per liter on HSD.
The fortnightly price adjustment mechanism was introduced following heightened volatility in global oil markets triggered by the Israel-Iran conflict and concerns over disruptions to energy shipments through the Strait of Hormuz, one of the world’s most critical oil transit routes.
