The federal government has raised petrol prices by Rs4.53 per litre for the next fortnight, reflecting global oil price increases.
A notification from the Finance Division announced late Monday also detailed a rise in high-speed diesel (HSD) prices by Rs8.14 per litre, setting the new price at Rs290.38 per litre, effective April 16.
Moreover, kerosene oil prices have risen by Rs6.69 to Rs193.8 per litre, and light diesel oil now costs Rs6.54 more, at Rs174.34 per litre.
The notification explained that the Oil & Gas Regulatory Authority (OGRA) adjusted these rates based on the international market’s price trends over the last two weeks.
Previously, the government had increased petrol prices by Rs9.66 but reduced HSD prices by Rs3.32 per litre during the last review.
Fuel prices in Pakistan are reviewed biweekly, considering global oil prices and local currency exchange rates. Pakistan, which imports approximately 85% of its oil, faces a balance of payments crisis and high inflation.
The recent fuel price hikes will likely affect living and transportation costs nationwide. In February, petroleum product sales fell by 19% year-over-year, primarily due to reduced gasoline and diesel purchases during the economic downturn. The government imposes a Rs60 per litre petroleum development levy on petrol and HSD.
