The federal government on Wednesday increased the prices of petrol and high-speed diesel (HSD) by Rs6.39 and Rs7.83 per litre, respectively, for July 23.
According to a notification issued by the Ministry of Petroleum, the price of petrol has been fixed at Rs327.12 per litre, while HSD will now cost Rs375.04 per litre.
The latest revision came hours after the government and the All Pakistan Petrol Pump Owners Association reached an agreement to postpone the association's planned nationwide shutdown for two weeks following successful negotiations with Petroleum Minister Ali Pervaiz Malik, who assured dealers that their long-pending concerns would be addressed.
Read: Nationwide petrol pump strike postponed for two weeks after govt assurances
This is the third consecutive day the government has revised the prices of petrol and HSD after deciding last week to switch to a daily fuel price review mechanism amid volatility in global oil prices following renewed hostilities in the Middle East.
Under the new system, daily fuel prices are based on a seven-day average of international market rates to align with international standards.
from Pakistan News, Latest News Pakistan, Pakistan Headline | The Express Tribune https://ift.tt/8aQAOBr
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