By Our CorrespondentĀ
ISLAMABAD: Petrol prices in Pakistan have climbed to a record Rs343.87 per litre after the federal government announced another increase in petroleum product prices, adding further pressure on consumers already facing high transportation and living costs.
According to a government notification, the price of petrol has been increased by Rs1.08 per litre, taking the new rate to Rs343.87 per litre.
The price of high-speed diesel has also been raised by 51 paisas per litre, pushing its new rate to Rs370.92 per litre.
The revised prices will take effect from September 2.
Petrol reaches Rs343.87 per litre
The latest revision pushes petrol further above the Rs340-per-litre mark, making fuel increasingly expensive for motorists, motorcyclists and households dependent on private transport.
Even relatively small changes in petroleum prices can have a broader economic impact because fuel costs influence transportation and the movement of goods across the country.
Petrol is widely consumed by motorcycles, cars and other light vehicles, meaning changes in its price directly affect millions of commuters.
Diesel climbs to Rs370.92
High-speed diesel, meanwhile, has risen to Rs370.92 per litre following the 51-paisa increase.
Diesel prices are particularly significant for the broader economy because the fuel is extensively used by heavy transport, buses, trucks and agricultural machinery.
Higher diesel costs can therefore feed into transportation and agricultural expenses and potentially affect the prices consumers ultimately pay for goods.
New fuel prices from September 2
Under the latest notification:
Petrol: Rs343.87 per litre ā up Rs1.08
High-speed diesel: Rs370.92 per litre ā up Rs0.51
The fresh increase comes as fuel prices remain a major concern for households and businesses because of their direct and indirect impact on everyday expenses.
Consumers will now face the revised rates from September 2, with attention likely to remain focused on future petroleum price reviews and their impact on inflation and transportation costs.
