Petrol cheaper by 35 paise in Pakistan:Diesel prices increase by Rs 5.71 per liter; new prices effective from July 21

The Pakistani government has reduced petrol prices by 35 paise per liter, while the price of High-Speed Diesel (HSD) has been increased by Rs 5.71 per liter. The new rates came into effect from July 21. After this price change, the new market price of petrol is now Rs 315.80 per liter and High-Speed Diesel is priced at Rs 360.06 per liter. Petrol, Diesel Prices in India and Pakistan Note: ₹ denotes Indian Rupee; Rs denotes Pakistani Rupee; ₹1 = Rs 2.89 in Pakistani. Current rates are lower than the record high of April Current fuel prices are still significantly lower than their all-time high reached in April this year: Now petrol, diesel prices to be determined daily instead of weekly Considering the sharp fluctuations in crude prices in the international market, the government has made a major policy change. Petroleum Minister Ali Pervez Malik has announced that fuel rates in the country will now be determined on a daily basis instead of weekly. Dealers Association opposed the decision The All Pakistan Dealers Association has strongly opposed the government’s decision to fix daily rates. The association has completely rejected this arrangement and stated that they may hold a protest demonstration against this decision this week. Middle Class and Transport Sector Will Be Most Affected Changes in petrol prices directly impact the country’s middle and lower-middle class, as it is primarily used in private vehicles, small cars, auto rickshaws, and two-wheelers. Meanwhile, expensive diesel poses a risk of increasing inflation across the country, as it is used in heavy commercial vehicles (trucks-buses), power plants, and large generators. In Pakistan, approximately 7 to 8 lakh tons of petrol and diesel are sold every month, while the monthly demand for kerosene is only 10 thousand tons. This is why petrol and diesel have become the biggest source of revenue collection for the government.