ISLAMABAD:The price of petrol has been increased by 77 paisa per litre to Rs342.79, while High Speed Diesel (HSD) has been reduced by Rs1.03 to Rs370.41 per litre under the revised daily petroleum pricing mechanism for September 1.
The Oil and Gas Regulatory Authority (OGRA) has revised the ex-depot prices of the two major petroleum products for September 1, according to a Petroleum Division press release.
The ex-depot price of Motor Spirit (MS), or petrol, has increased from Rs342.02 to Rs342.79 per litre, resulting in an increase of Rs0.77 per litre.
Meanwhile, the ex-depot price of HSD has declined from Rs371.44 to Rs370.41 per litre, providing consumers with a reduction of Rs1.03 per litre.
The latest adjustment means petrol and diesel prices will move in opposite directions on September 1, with the increase in petrol prices being smaller than the reduction in HSD prices.
For petrol users, the new rate of Rs342.79 per litre represents an additional 77 paisa for every litre purchased compared with the previous daily rate.
For diesel consumers, the revised rate of Rs370.41 per litre represents a saving of Rs1.03 per litre compared with the previous rate.
Petrol is widely used by motorcycles, cars, taxis, rickshaws and other light vehicles, making changes in its price directly relevant to millions of consumers and commuters.
HSD, meanwhile, is extensively used in transport, agriculture, industry and other sectors. Changes in its price can therefore affect the operating costs of trucks, buses, tractors, agricultural machinery and other diesel-powered equipment.
According to the Petroleum Division, the latest prices have been determined under the revised petroleum pricing mechanism issued by the Federal Government.
Under the daily pricing system, the revised ex-depot rates of Rs342.79 per litre for petrol and Rs370.41 per litre for HSD are applicable for September 1.
The latest revision has therefore delivered a mixed outcome for petroleum consumers, with petrol prices increasing modestly while HSD prices have registered a comparatively larger reduction for the day.
