The federal government on Friday night increasedd the price of petrol by Rs2.43 per litre and that of high-speed diesel (HSD) by Rs3.02 per litre for the next fortnight.
In a late-night announcement, the Ministry of Finance said the revision followed movements in international markets and recommendations from the Oil and Gas Regulatory Authority (Ogra) and relevant ministries.
According to a notification issued by the Finance Division, the petrol price now stands at Rs265.45 per litre from Rs263.02 per litre. Meanwhile, the price of diesel has increased to Rs278.44 per litre from Rs275.42 per litre.
Meanwhile, Ogra notified a Rs5.88 per kilogram (2.83pc) cut in LPG’s consumer price to Rs201.60 per kg (from Rs207.49 per kg).
The price of an 11.8kg cylinder has been set at Rs2,378.89 for November, down Rs69.44 from Rs2,448.53 for October. The government charges about Rs37,342 per tonne in GST and petroleum levy on LPG.
Petrol is mainly used in private transport, small vehicles, rickshaws, and two-wheelers, and has a direct bearing on the budgets of middle- and lower-middle-class households.
HSD fuels heavy transport, agricultural machinery, and trains. Its price is considered highly inflationary, influencing the cost of food and other essential goods.
