The federal government on Saturday night increased the prices of petroleum products for the upcoming fortnight, effective March 1, according to a notification issued by the Petroleum Division.
Under the revised rates, the price of petrol has been raised by Rs8 per litre, taking it from Rs258.17 to Rs266.17 per litre.
Similarly, the price of high-speed diesel has been increased by Rs5.16 per litre, moving up from Rs275.70 to Rs280.86 per litre.
Petrol is primarily consumed by commuters using small vehicles, motorcycles, and rickshaws. Any increase in its price directly affects middle- and lower-middle-income households that depend on petrol for their daily transportation needs.
High-speed diesel, on the other hand, is widely used in the transport and agricultural sectors. It fuels heavy goods vehicles, trucks, buses, and trains, as well as farm machinery such as tractors, tube wells, and threshers.
Due to its extensive use in goods transportation and farming, an increase in diesel prices is often viewed as inflationary, as it contributes to higher freight charges and, consequently, rising prices of vegetables and other essential food items.