ISLAMABAD: Petrol and diesel prices have increased sharply since the introduction of the daily petroleum pricing mechanism, with petrol becoming Rs20.81 per litre more expensive and diesel rising by Rs55.36 per litre over the past six days.
According to the Petroleum Division, on July 18, petrol prices were increased by Rs5.44 per litre, while diesel prices rose by Rs31.05 per litre.
A fresh price revision on July 21 saw petrol become cheaper by 35 paisa per litre, whereas diesel increased by Rs5.71 per litre.
For July 22, petrol prices were raised by Rs4.93 per litre, while diesel prices increased by Rs7.15 per litre.
The following day, July 23, petrol became Rs6.39 per litre more expensive, while diesel prices went up by Rs7.83 per litre.
On July 24, the latest revision increased petrol prices by Rs4.40 per litre and diesel prices by Rs3.62 per litre.
It is worth noting that on July 17, the federal cabinet approved a new pricing mechanism under which the Oil and Gas Regulatory Authority (OGRA) determines petroleum product prices on a daily basis, taking into account trends in the international oil market.
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