Now Reading: Pakistan raises petrol and diesel prices on Independence Day
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Pakistan raises petrol and diesel prices on Independence Day
Pakistan raised petrol and diesel prices on August 14, its 79th Independence Day. The Ministry of Energy notified the increase on recommendations from the Oil and Gas Regulatory Authority. Petrol went up…
The Story in Brief
Pakistan raised petrol and diesel prices on August 14, its 79th Independence Day. The Ministry of Energy notified the increase on recommendations from the Oil and Gas Regulatory Authority. Petrol went up by Re 0.45 to Rs 325.43 per litre, and High-Speed Diesel rose by Rs 1.16 to Rs 383.95 per litre, effective immediately.
The increase follows a revised pricing mechanism introduced in July, under which OGRA sets fuel prices daily based on a seven-day average of international oil rates. Petroleum Minister Ali Pervaiz Malik said the system aims to pass on global market fluctuations more quickly. Pakistan has seen sharp fuel price swings in 2026, with petrol briefly crossing Rs 458 per litre in April before easing.
The Indian Opinion
The fuel hike on Pakistan’s Independence Day is being framed as a government failure, but the numbers tell a less dramatic story: petrol rose by just 45 paise a litre, and the daily pricing mechanism ties domestic rates to a seven-day average of global oil prices. These modest increases will still pinch households already squeezed by high living costs. A fairer test of the policy is whether the daily mechanism actually protects consumers from the sharp spikes seen earlier this year, when petrol briefly crossed Rs 458 per litre.
Source: timesnownews.com
This story was synthesised by AI from the source linked above.
