KARACHI: The upward spiral in petroleum prices continued as the federal government announced yet another increase last night, making both petrol and diesel more expensive for the second consecutive day.
According to a notification issued by the Petroleum Division, the revised prices will be applicable only for today, i.e. July 25.
As per the notification, the price of high-speed diesel (HSD) has been increased by Rs4.80 per litre, taking the new retail price to Rs383.46 per litre.
Similarly, the price of petrol (Motor Spirit) has been increased by Rs3.66 per litre, after which the new price of petrol has become Rs335.18 per litre.
The hike comes just a day after petrol was raised to Rs331.52 and diesel to Rs378.66 on July 23 night.
With today’s revision, the cumulative increase in July has widened further. From Rs299.50 per litre on June 30 – the last rate before the daily pricing mechanism – petrol has now surged to Rs335.18 on July 25, a net increase of Rs35.68 per litre, or nearly 12% in less than a month.
The daily price adjustments, which OGRA started implementing every working day since July 21 under the new market-linked mechanism, continue to draw criticism from consumers and businesses already burdened by high inflation.
