The government has increased the profit margin for petrol and diesel dealers by Rs1.34 per litre on Friday.
How much will the petrol margin increase?
The new margin will come into effect across the country from midnight tonight. After the increase, dealers will receive Rs9.98 per litre instead of the previous Rs8.64 per litre.
Why was the margin increased?
Sources said that the decision was made after dealers raised concerns about their rising business costs. They had also been demanding an increase in their margins for some time.
The new margin will apply to petrol and diesel sold at fuel stations across Pakistan.
Petroleum dealers have continued to call for higher margins to help them manage their increasing operating expenses.
Previously, oil marketing companies asked the government to increase their profit margin per litre. The demand came after petroleum dealers also called for a higher margin.
The Oil Companies Advisory Council (OCAC) had written to the federal petroleum minister. It had asked the government to raise the profit margin for oil marketing companies without further delay.
Petrol, diesel prices in Pakistan today
Yesterday, the Oil & Gas Regulatory Authority (OGRA) announced new prices for petroleum products. The rates of high-speed diesel and petrol were increased.
According to the notification, the price of petrol has been increased by Rs0.27 per litre. The price of high-speed diesel increased by Rs1.64 per litre.
The new price of petrol has been fixed at Rs 337.78 per litre. Similarly, the new price of diesel has been fixed at Rs 364.70 per litre.
Earlier, on July 17, petrol became Rs5.44 more expensive while high-speed diesel increased by Rs31.50 per litre. Petrol reached Rs316.15 per litre and diesel stood at Rs354.35 per litre.
On July 20, petrol became cheaper by Rs0.35 and reached Rs315.80 per litre. However, diesel increased by Rs5.71 and reached Rs360.60 per litre.
Fuel prices went up again on July 21. Petrol increased by Rs4.93 while diesel rose by Rs7.15. The prices reached Rs320.73 and Rs367.21 per litre, respectively.