Govt announces Rs4.07 per litre hike in petrol price

Rate of high-speed diesel raised by Rs4.04 per litre, bringing it to Rs276.18 per litre

By |
Motorcyclists waiting for their turn to fill fuel in their bikes at a petrol pump in Hyderabad on May 16, 2024. —APP
Motorcyclists waiting for their turn to fill fuel in their bikes at a petrol pump in Hyderabad on May 16, 2024. —APP 
  • Finance Division announces new prices.
  • New petrol price will go into effect from Oct 1.
  • Rates changed after reviewing int'l market.

ISLAMABAD: The federal government has announced a Rs4.07 per litre increase in petrol price for the next two weeks, till October 15.

According to a notification issued by the Finance Division, the revised prices are based on recommendations by the Oil and Gas Regulatory Authority (Ogra) and the ministries concerned.

With the latest increase, petrol will now cost Rs268.68 per litre, up from Rs264.31. The price of high-speed diesel (HSD) was also raised by Rs4.04, bringing it to Rs276. 18 from Rs272.77 per litre, read the notification. 

ProductsExisting pricesNew pricesIncrease/Decrease
PetrolRs264.61Rs268.68+4.07
High-Speed DieselRs272.77Rs276.18+4.04

In the previous fortnight, the government kept petrol prices unchanged at Rs264.61. However, the price of diesel was increased by Rs2.78 per litre.

Petrol powers small vehicles, rickshaws, and bikes, making price hikes especially hard on middle- and lower-income households who depend on it for daily commuting.

In contrast, a substantial portion of the transport sector depends on high-speed diesel. Its price is considered inflationary due to its widespread use in trucks, buses, trains, and farm machinery, such as tractors and tube wells.

The increased cost of high-speed diesel directly contributes to the rising prices of vegetables and other essential food items.