Pakistan hikes fuel price by Rs3.81, diesel by Rs3.59 per litre

The government has again hiked prices of fuel and high speed diesel and announced the new rates that would be effective for three days from Aug 22 to Aug 24.

An official statement said on Friday that the fuel price has been increased by Rs3.81 per litre to Rs341.59 per litre.

The price of high-speed diesel has also been raised by Rs3.59 per litre and the new price is Rs368.29 per litre.

The new tariffs will be effective from Aug 22 and will be valid till Aug 24.

The newest move comes after another change in petroleum prices as the government is revising fuel costs more often under its new pricing methodology.

Petrol and diesel costs remain significant to consumers and businesses as they directly effect household spending, transport and economic activity.

With the recent rise, a consumer buying 40 litres of fuel will now spend roughly Rs13,664, while filling a 50-litre tank will cost around Rs17,080 at the new rate.

High speed diesel has wider impact on economy through its wide use in transportation of commodities, agriculture and commercial vehicles. Higher diesel prices can raise freight and logistics costs, which can increase the cost of moving key commodities and other goods.