Government raises petrol price to Rs 358.77, diesel to Rs 381.77

Reports on September 8 suggest that a protest called by Jamaat-e-Islami against the recent fuel price hike has not been successful. The party had previously announced plans for a nationwide demonstration in response to the government's decision.

The public reaction to the recent fuel price hike has continued, with reports of citizens in Peshawar now also speaking out against the government's decision. This follows earlier demonstrations in other cities, including Lahore.

Following the government's announcement of a significant fuel price increase, public protests have begun in cities including Lahore, where citizens have taken to the streets to demonstrate against the hike.

In a related development, transporters have reportedly increased fares for both passengers and goods without waiting for official approval, adding to the financial burden on the public.

In a statement on September 8, Jamaat-e-Islami chief Hafiz Naeem ur Rehman commented on the party's decision to hold a nationwide protest against the recent increase in petroleum prices.

In response to the latest increase in fuel prices, Jamaat-e-Islami, led by Hafiz Naeem ur Rehman, has announced a nationwide protest.

The call for protest follows the government's decision on September 8 to raise the price of petrol by Rs 12.90 per litre.

A notification from the Petroleum Division confirmed that government levies and fixed profit margins for both petrol and high-speed diesel (HSD) remain unchanged. Both fuels are subject to a Petroleum Levy of Rs 80 per litre and a Climate Support Levy of Rs 5 per litre. Profit margins are set at Rs 9.98 per litre for dealers and Rs 7.87 per litre for oil marketing companies.

Customs duties also remain fixed at Rs 21.02 per litre for petrol and Rs 15.68 per litre for HSD. The Inland Freight Equalisation Margin (IFEM) has been adjusted to Rs 7.60 and Rs 4.02 per litre, respectively.

In a separate development, the Petroleum Pricing Committee, headed by Minister for Petroleum Ali Pervaiz Malik, has proposed June 2027 as a timeline for the deregulation of the sector.

The latest increase in fuel prices has been linked to growing turmoil in global oil markets, particularly intensifying tensions between Iran and the U.S. around the Strait of Hormuz. Reports indicate that Brent crude has climbed to approximately $97.50 a barrel, a surge of about 35% since February, fueling concerns of a renewed wave of inflation.

In a significant development, the government also announced that there would be no price increase for consumers using up to 110 litres of petrol per month, offering some relief to motorists with lower consumption.