Petrol Up 88 Paise to Rs382.02 Per Litre, Diesel Rises 53 Paise to Rs389.80 for October 21

ISLAMABAD: The relief lasted a day. After cutting fuel rates on Tuesday, the government has announced a petrol price hike for Wednesday, October 21, raising petrol by 88 paise to Rs382.02 per litre, from Rs381.14. High-speed diesel is up by 53 paise, from Rs389.27 to Rs389.80 per litre. The Petroleum Division’s notification says the revised rates take effect today.

Down one day, up the next

That is now the rhythm of the daily pricing system in place since July. Only for October 20, petrol had come down by Rs5.16 and diesel by a steeper Rs7.69. Petroleum Minister Ali Pervaiz Malik says the daily rates are worked out on a seven-day average of international market prices, in line with international practice. OGRA has also begun posting the daily prices on its website, so movements in global markets reach consumers faster and more transparently. Prices notified on a Friday stay unchanged over Saturday and Sunday.

Import cost moved, levies did not

The notification’s own figures show this increase did not come from taxes. The import cost of petrol rose from Rs270.40 to Rs271.28 per litre, while diesel’s import cost went from Rs281.71 to Rs282.24. The petroleum levy stays at Rs80 per litre on both fuels, with a climate support levy of Rs5. Dealer margins remain Rs9.98 per litre and oil marketing company margins Rs7.87, unchanged.

What it means at the pump

An 88-paise rise sounds small, but for motorbike riders and small-car owners the daily total is built out of exactly such moves. A costlier diesel feeds into transport fares and freight, which is why traders now watch the daily notification as closely as motorists do. With tensions still running high in the Middle East and uncertainty hanging over the Strait of Hormuz, global oil has had no chance to settle — and while that lasts, the daily up-and-down at Pakistani pumps is likely to continue.