ISLAMABAD – The federal government has announced a significant increase in the prices of petrol and high-speed diesel, with the revised rates taking effect from midnight. The adjustment marks another sharp uptick in the cost of living for citizens already grappling with high inflation.
According to an official notification issued by Petroleum Division, the price of petrol has been raised by Rs4.93 per litre. This brings the new retail price to Rs320.73 per litre. The cost of high-speed diesel has seen an even steeper jump, increasing by Rs7.15 per litre to reach a new rate of Rs367.21 per litre.
Official Rationale Behind the Price Surge
The Petroleum Division stated that the revised prices were determined based on the recommendations of the Oil and Gas Regulatory Authority (OGRA). The adjustment is part of the government’s routine fortnightly fuel price review, which recalibrates domestic rates in line with fluctuations in the global oil market and currency exchange variations.
The new prices came into force at 12:00 AM and will remain applicable until the next scheduled fuel price adjustment. This increase is expected to have a cascading effect on transportation costs and the prices of essential commodities across the country.
