Pakistanis are waking up to another costly trip to the fuel station as the federal government has sharply increased petrol and high-speed diesel (HSD) prices for September 8.

The government has increased the price of petrol by Rs12.9 per litre to Rs358.77 per litre. The price of HSD has also been increased by Rs3.72 per litre to Rs381.77 per litre, according to a notification issued by the Petroleum Division.

The latest hike is set to add to the strain on household budgets and transporters and businesses already battling rising operating costs. The knock-on effects of higher fuel prices can develop quite rapidly, pushing up transportation costs and thereby the cost of goods and services.

The steep revision follows a mixed adjustment to petroleum prices by the government days ago. Petrol was reduced by Rs3.13 per litre between September 5 and September 7 while HSD was increased by Rs3.74 per litre.

The short-lived respite at the petrol pumps has been replaced by a much sharper increase, with motorists now facing a big jump in the cost of filling their tanks.

The new rates are indicative of the close relationship between domestic fuel prices and government decisions and changing market conditions. Even a few rupees per litre can make a noticeable difference to monthly expenses for millions of consumers who depend on cars, motorcycles and public transport.

Petrol now hovers around Rs360, and diesel has crossed Rs380 a litre and the latest hike will keep fuel prices – and their impact on everyday life – firmly in the spotlight.

Credit: Independent News Pakistan (INP)