The federal government has announced an increase in fuel prices, raising the price of petrol by Rs 2.43 per litre and diesel by Rs 3.02 per litre, effective from midnight tonight. The latest revision comes as part of the government’s fortnightly review of petroleum prices based on global market fluctuations and currency exchange rates.
According to a notification issued by the Finance Division, the adjustment was made following recommendations from the Oil and Gas Regulatory Authority (OGRA). The ministry cited rising international crude oil prices and depreciation of the Pakistani rupee as the main factors behind the hike.
After the latest revision, the new price of petrol stands at Rs [insert updated price once announced] per litre, while high-speed diesel will now be available at Rs [insert updated price] per litre.
Officials said the increase was necessary to prevent further financial strain on the national exchequer, as the government continues to subsidize petroleum imports to maintain supply stability.
Economists, however, warn that the hike may lead to a fresh wave of inflation, affecting transportation costs and prices of essential goods.
This marks the third consecutive adjustment in fuel prices over the past few months, reflecting continued volatility in global oil markets.
