Government announces increase in petroleum prices

The federal government has announced a fresh increase in the prices of petroleum products, raising the rates of petrol and high-speed diesel (HSD) effective from midnight tonight.

According to the latest notification, the price of petrol has been increased by Rs 2.43 per litre, bringing the new price to Rs 265.45 per litre. The price of high-speed diesel has gone up by Rs 3.20 per litre, with the new rate fixed at Rs 278.44 per litre.

The revision comes as part of the government’s fortnightly review of fuel prices, based on fluctuations in international oil markets and exchange rate movements.

The Ministry of Finance has issued a notification of the new prices, which will be applicable from 12 tonight. The new prices of petroleum products will be applicable from November 1 to 15.

The latest adjustment is expected to impact transportation and commodity costs, as high-speed diesel is widely used in goods vehicles and the agriculture sector.

Fuel prices in Pakistan are revised every 15 days after consultation between the Ministry of Finance and the Oil and Gas Regulatory Authority (OGRA).