ISLAMABAD, July 23: The government’s decision to revise petroleum prices daily has led to sharp increases in petrol and diesel prices, placing an additional burden on consumers, ARY News reported.
According to the latest price adjustments, the price of high-speed diesel has increased by Rs20.69 per litre in just three days, rising from Rs354.35 to Rs375.04 per litre.
During the same period, petrol became Rs11.32 per litre more expensive. The only relief came with a 35-paisa reduction on one day before prices resumed their upward trend. Petrol now costs Rs327.12 per litre, compared with Rs315.80 three days earlier.
At the end of last week, the government had already increased the price of high-speed diesel by Rs31.05 per litre, while petrol became Rs5.44 per litre more expensive.
Overall, diesel prices have increased by Rs52.19 per litre over the past six days, while petrol has risen by Rs16.76 per litre during the same period.
The recent increases follow the government’s adoption of daily fuel price adjustments, replacing the previous fortnightly pricing mechanism on a trial basis.
Earlier, the All Pakistan Petrol Pumps Association had postponed its planned nationwide strike after Petroleum Minister Ali Pervaiz Malik assured dealers that their concerns would be addressed.
Speaking at a joint press conference with the minister, Petrol Pump Owners Association Information Secretary Nadeem Khan said the decision was made after the government promised to resolve the industry’s demands.
“We have been assured that our issues will be addressed, so we are postponing the call to shut down petrol pumps,” Khan said. He added that the long-standing issue of dealer margins was expected to be resolved within the next two weeks.
Petroleum Dealers member Raja Waseem said the government had informed the association that the daily pricing of petrol and diesel was being implemented on a trial basis for 15 days.
He said dealers had been forced to consider a strike after facing prolonged difficulties but welcomed the government’s willingness to hold talks.
“We are thankful to the government and the petroleum minister for listening to us. We hope our issues will be resolved within two weeks,” he said.
Addressing the media, Petroleum Minister Ali Pervaiz Malik said the government was finalising a plan to settle the dealer margin issue and would send a summary to the federal cabinet.
He said both the Ministry of Petroleum and the Oil and Gas Regulatory Authority (OGRA) were committed to resolving the matter as soon as possible.
“If there is no progress, we will sit together again after two weeks,” the minister said.