Pakistan

Federal Govt jacks up petrol price by Rs 4.53 per litre

The federal government has decided to raise the petrol price and diesel for the upcoming two weeks due to an increase in global oil rates. Effective from April 16, the price of petrol will go up by Rs4.53 per litre. Additionally, the price of high-speed diesel (HSD) will rise by Rs8.14 per litre to reach Rs290.38 per litre.

The latest notification from the Finance Division also indicates a hike in the prices of kerosene oil and light diesel. Kerosene oil will now cost Rs193.8 per litre, up by Rs6.69, while light diesel’s price has been raised by Rs6.54 to Rs174.34 per litre.

Read More: PPP to support govt for economic stability, prosperity: President

The government justifies these increases by citing the upward trend in global oil prices over the last fortnight. The Oil & Gas Regulatory Authority (OGRA) has determined these new consumer prices based on international market fluctuations.

This adjustment follows the previous fortnightly review, during which petrol price rose by Rs9.66 per litre, while the price of HSD decreased by Rs3.32 per litre.

Pakistan, a country heavily reliant on oil imports, faces economic challenges including a balance of payments crisis and high inflation rates. The rise in fuel prices is expected to impact living costs and transportation expenses, exacerbating the financial strain on citizens.

The government routinely reviews fuel prices every 15 days, aligning them with global oil price movements and the local currency’s exchange rate. Notably, the government imposes a petroleum development levy (PDL) of Rs60 per litre on both petrol and HSD.

Web Desk

Recent Posts

So-called legislation, court decisions cannot absolve India of its obligations on Kashmir: PM

MUZAFFARABAD: Prime Minister Shehbaz Sharif on Thursday said that no so-called legislation or court verdicts…

7 hours ago

PM orders policy on financial security for sportsmen through jobs in departments

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday directed formulation of a policy to employ athletes…

8 hours ago

No new legislation under consideration to extend tax, duty exemptions for erstwhile Fata, Pata: FinMin

ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb on Thursday informed the National Assembly that there…

8 hours ago

PM assures implementation of understanding with AJK

MUZAFFARABAD: Prime Minister Shehbaz Sharif said on Thursday that the progress of Pakistan and Azad…

8 hours ago

Dar highlights Pakistan’s reform agenda in meeting with Chinese finance minister

BEIJING: Deputy Prime Minister and Foreign Minister Ishaq Dar on Thursday met with Chinese Minister…

9 hours ago

PM in AJK to meet leadership, get briefing on Neelum Jhelum project

MUZAFFARABAD: Prime Minister Shehbaz Sharif on Thursday arrived in Muzaffarabad for a day-long visit to…

9 hours ago