ISLAMABAD: The federal government on Thursday increased the price of petrol by Rs1.35 for the next fortnight in line with "price variation" in the international market.
The new fuel prices came into effect from November 1 (Friday).
According to a notification issued by the Finance Division, the new price of petrol will be Rs248.38 per litre, up from Rs247.03.
“The Oil [and] Gas Regulatory Authority (OGRA) has worked out the consumer prices of petroleum products, based on the price variation in the international market,” read a statement released by the Finance Division late Thursday.
Similarly, the price of high-speed diesel (HSD) was increased from Rs251.29 to Rs255.14 per litre — an increase of Rs3.85 per litre.
Meanwhile, prices of other petroleum products have been reduced.
The new price of kerosene will be Rs161.54, down by Rs1.48 from Rs163.02 per litre.
Likewise, the price of light-diesel oil has been reduced by Rs2.61 from Rs150.12 to Rs147.51 per litre.
| Products | Exisiting price | New price | Increase/Decrease |
| Petrol | 247.03 | 248.38 | +1.35 |
| High-Speed Diesel | 251.29 | 255.14 | +3.85 |
| Kerosene | 163.02 | 161.54 | -1.48 |
| Light Diesel Oil | 150.12 | 147.51 | -2.61 |
Petrol is mainly used in private transportation, small vehicles, rickshaws, and two-wheelers. Higher fuel prices significantly impact the budgets of the members of the middle and lower-middle classes, who primarily consume petrol for commuting. On the other hand, a significant portion of the transport sector relies on high-speed diesel.
Its price is considered inflationary since it is predominantly used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers.
The consumption of high-speed diesel particularly contributes to the increased prices of vegetables and other food items.
Relief for people being prioritised over every other step to fulfil promises made to them, says premier
Aleem Khan admits govt planning to invite fresh EOIs after earlier attempts faced hurdles
"IMF officials didn't say anything that we were not aware of already there were no surprises," says Aurangzeb
Programme envisages mobilising up to $3.5 billion from ADB, GCF, governments and development partners
During her year-long term in office, Ayla will lead over 252,500 members of ACCA across 180 countries
Minister says virtual negotiations with IMF underway as certain points required in-person discussions
