By Our Correspondent
ISLAMABAD: The federal government on Saturday announced a petrol price increase of Rs8 per litre and a high-speed diesel (HSD) hike of Rs5.16 per litre for the next fortnight, according to the Petroleum Division.
Following the revision, petrol will now cost Rs266.17 per litre, up from Rs258.17, while HSD prices rise to Rs280.86. The decision is based on recommendations from the Oil and Gas Regulatory Authority (OGRA) and reflects fluctuations in global oil markets. The new rates are effective from March 1.
Petrol is widely used in private vehicles, motorcycles, rickshaws, and small transport, making the increase directly felt by middle- and lower-middle-income families. Diesel powers heavy transport, trains, and agricultural machinery, meaning the hike could have broader implications on goods prices and daily essentials.
Government officials emphasized that the revision is part of routine fortnightly adjustments and aimed at balancing fiscal responsibilities with public considerations. While the increase may put pressure on household budgets, authorities maintained that it is moderate compared to international market trends.
The next review of petroleum prices is scheduled in two weeks, keeping the government’s approach aligned with OGRA recommendations.
