Govt hikes petrol price by Rs3.47 per litre

The government has increased petrol prices for the second consecutive time, citing rising costs in the international market.

According to a notification released by the Finance Division, the petrol price per litre has been raised by Rs3.47, while the price of high-speed diesel (HSD) has been increased by Rs2.63 per litre. The new rates will take effect from midnight.

Following this increase, petrol will now be available at Rs256.13 per litre, while HSD will be sold at Rs260.95 per litre.

Earlier, several reports in the media suggested that due to higher global prices, the government might hike petrol prices by up to Rs6 per litre.

On New Year’s Eve, the government raised petrol prices by Rs0.56 per litre, setting the new price at Rs252.66 per litre. Diesel prices were also increased by Rs2.96 per litre, reaching Rs258.34 per litre for the first half of January.

In December, Pakistan’s oil sales experienced a decline, dropping by 19 per cent compared to the previous month. However, when looking at the year as a whole, there was a slight 3 per cent increase, with total sales reaching 1.28 million tonnes.