The government has jacked up the petrol price in the country by Rs7.45 per litre from Rs258.16 per litre to Rs265.61 per litre for the next fortnight.
The Finance Division officially notified the latest prices, which it said had been worked out by the Oil and Gas Regulatory Authority (Ogra), based on the price variations in the international market.
As per the notification, the price of high-speed diesel has also been increased by Rs9.56 per litre to Rs277 per litre.
Products | Existing price | New price | Increase/Decrease |
Petrol | Rs258.16 | Rs265.61 | +Rs7.45 |
High Speed Diesel (HSD) | Rs267.89 | Rs277.45 | +9.56 |
“The prices of Petroleum products have seen an increasing trend in the international market during the last fortnight,” the official notification read.
The government had increased the petroleum development levy (PDL) by Rs10 per litre — from Rs60 to Rs70 — in the federal budget for the fiscal year 2024-25, burdening the inflation-hit public.
However, Finance Minister Muhammad Aurangzeb clarified earlier today that the increased levy on petroleum products was not being imposed immediately, meaning that the PDL remains the same in the latest fuel price review.
Earlier, the government had provided a cumulative relief of Rs35 per litre by decreasing the petrol price in the last four fortnightly reviews.
More to follow…