Web desk: The federal government has approved an increase of Rs4.07 per litre in petrol rates, effective for the next two weeks until October 15.
A statement from the Finance Division said the revised prices were set following recommendations from the Oil and Gas Regulatory Authority (OGRA) and relevant government ministries.
The federal government has announced an increase in the prices of petroleum products, with both petrol and high-speed diesel seeing a significant rise, effective from midnight on October 1.
According to a notification from the Ministry of Finance, petrol has been increased by Rs 4.07 per litre, raising the rate from Rs 264.61 to Rs 268.68.
High-speed diesel has also gone up by Rs 4.04 per litre, moving from Rs 272.77 to Rs 276.81.
These revisions are part of the government’s routine fortnightly review of petroleum prices, which are adjusted based on global market trends and domestic economic factors.
Small vehicles, motorcycles and rickshaws still use petrol as the main form of fuel, and the increase is especially heavy on middle- and lower-income families that use it daily.
Diesel is commonly used in trucks, buses, trains, and agricultural equipment such as tractors and tube wells, and is essential to transport and agriculture.
Its price increase is likely to increase the prices of the basic commodities such as vegetables and other food products.
The new rates have already been implemented in the filling stations around the country.
An increase in the cost of fuel will probably have an effect on commuting and freight transportation and generally on the costs of production, with more widespread effects on inflation and the economy.
Following the latest revision of petroleum product prices, the government has raised the cost of petrol and diesel across the country.
Earlier, on September 15, kerosene oil was also increased by Rs 3.15 per litre, with the price set at Rs 179.96 per litre.
The government reviews and adjusts petroleum product prices every 15 days, taking into account global oil trends and domestic economic conditions.
