The federal government on Wednesday increased the price of petrol by Rs1.82 per litre, while decreasing the price of high-speed diesel (HSD) by 91 paisas per litre for October 8.
According to a notification issued by the Petroleum Division, the price of petrol was fixed at Rs396.65 per litre, while HSD would cost Rs394.94 per litre for Thursday.
The latest revision comes a day after the government increased the price of petrol by Rs1.19 per litre, while decreasing the price of HSD by Rs1.91 per litre for October 7.On July 17, the government announced a new pricing mechanism under which petroleum product prices would be reviewed and notified daily, replacing the weekly pricing mechanism, as renewed tensions between the United States and Iran continued to drive volatility in global oil markets and raise concerns over fuel supplies.
On September 13, PM Shehbaz announced a special relief scheme offering Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws and cars with engines up to 800cc, in an attempt to shield lower-income consumers from the impact of rising petroleum prices.
Under the proposal, an estimated 11.8 million beneficiaries would be covered. Around 10 million two-wheeler users and 800,000 three-wheeler users would be entitled to relief on 20 litres of fuel per month, translating into a maximum monthly benefit of Rs2,000 per beneficiary.
