Pakistan Fuel Price Hike: As per the latest price revision, the petrol price was increased to PKR 293.94 per litre from PKR 289.41.
Petrol Price in Pakistan: Amid dwindling economy, the petrol and diesel prices were hiked in Pakistan on Monday as the federal government announced an increase in the price of petrol by Pakistani currency (PKR) 4.53 per litre and that of high-speed diesel (HSD) by PKR 8.14 per litre for the next fortnight ending April 30, Dawn reported.
As per the latest price revision, the petrol price was increased to PKR 293.94 per litre from PKR 289.41.
Apart from this, the HSD price was increased to PKR 290.38 per litre for the next 15 days, compared to PKR 282.24 over the past fortnight, Dawn reported.
The decision, announced in a notification from Pakistan’s finance ministry, said that price variations were worked out by the Oil and Gas Regulatory Authority based on price variations in the international market.
Petrol is mostly used in private transport, small vehicles, rickshaws, and two-wheelers and has a direct bearing on the budgets of the middle and lower-middle classes.
Dawn reported that most of the transport sector runs on HSD. Its price is considered inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube wells and threshers and particularly adds to the prices of vegetables and other eatables.
The government did not announce the prices of kerosene and light diesel oil (LDO). Kerosene is mostly used by unscrupulous elements to mix with petrol and, to some extent, for lighting in very remote areas, while LDO is consumed by flour mills and a couple of power plants.
Earlier, informed sources said the prices of petrol and HSD had increased in the international market by about USD 4 and USD 4.50 per barrel, respectively, during the last fortnight, before the latest escalation. The price of petrol was projected to be higher by PKR 2.50 to PKR 2.80 and that of HSD to go up by PKR 8 to PKR 8.50 per litre, Dawn reported.
(With inputs from ANI)