The federal government further reduced consumers’ purchasing power by raising petrol and diesel prices on Monday, following a previous increase in electricity tariffs for both domestic and commercial users.
According to a notification from the finance ministry, petrol prices surged by Rs9.99 per litre, while high-speed diesel (HSD) increased by Rs6.18 per litre for the upcoming fortnight starting from midnight Monday.
The ministry notification attributed the fuel price hike to fluctuations in international market rates as assessed by the Oil and Gas Regulatory Authority (Ogra).
“Ogra has determined consumer prices based on international market price fluctuations,” stated the notification, clarifying that there would be no changes in the applicable duties and levies, which remain unchanged.
Consequently, the new price for petrol was set at Rs275.6 per litre, up from the previous Rs265.61, and diesel at Rs283.63 per litre, increased from Rs277.45. The government had previously raised fuel prices after a series of decreases in the three prior revisions.
After providing relief to consumers in the previous three revisions of oil prices, the federal goverment increased petroleum product prices by as much as Rs9.56 per litre on Monday, responding to global fuel price fluctuations.
The upward adjustment in fuel prices followed a significant increase in electricity tariffs notified by the government the previous day, impacting millions of consumers nationwide, particularly residential users.
