As the country battles rampant inflation, the caretaker government Thursday announced an Rs2.73 per litre hike in petrol price for the next fortnight to Rs275.62 per litre.
As per the notification issued by the Finance Division, the price for high-speed diesel has also been increased by Rs8.37 per litre to Rs287.33 per litre.
"Government of Pakistan has decided to bring changes in the current prices of Petroleum products for the fortnight," the notification read.
| Products | Existing price | New price | Increase/Decrease |
| Petrol | Rs272.89 | Rs275.62 | +Rs2.73 |
| High Speed Diesel (HSD) | Rs278.96 | Rs287.33 | +Rs8.37 |
The new prices, as recommended by the Oil and Gas Regulatory Authority (Ogra) have taken effect from this midnight (February 16) and will remain in place till February 29.
The increase in prices of petrol and high-speed diesel was expected after the exchange rate adjustment.
According to official sources, the main hike in fuel prices comes in the wake of the alarming situation in the Red Sea where Houthis are attacking and restricting the movement of oil vessels and other ships.
Social activist urges govt to maintain restoration of tax rebate for teachers in budget 2024-25
"Federal govt to ensure accessibility of low-cost energy to every citizen," says Premier Shehbaz
Budget aims at narrowing fiscal deficit by expanding revenues and cutting unnecessary expenditures, finance minister...
Strategists say market is expected to reflect more gains due to having cheapest valuations in continent
State finance minister says Rs19.07 billion allocated for wheat subsidy in Budget 2024-25
Celebrity says PM, minister reassured him that they will reconsider decision "with a favourable outcome”
