Petrol now Rs391.22 a litre after Rs6.88 increase, diesel up Rs5.62

The federal government has raised the price of petrol by Rs6.88 per litre and high-speed diesel by Rs5.62 per litre, according to a notification from the Oil and Gas Regulatory Authority.

Petrol will now cost Rs391.22 per litre, up from Rs384.34 in the previous review, while high-speed diesel rises to Rs421.45 per litre from Rs415.83.

OGRA said the increase mainly reflects higher petrol and diesel prices on international markets amid continuing global uncertainty, along with changes in Platts rates, premiums and other factors used in the price calculation.

The rise adds to costs for households and businesses already dealing with high fuel prices.

International crude prices eased on Wednesday. Brent futures fell $3.63, or 3.3%, to $105.12 a barrel by mid-morning in New York, and West Texas Intermediate dropped $4.11, or 3.9%, to $101.72, after reports that Saudi Arabia was offering more crude to Asian refiners through ship-to-ship transfers off Oman's Sohar port and a smaller-than-expected fall in US crude stocks.