ISLAMABAD: Contrary to market expectations, the federal government has raised petrol prices by Rs1.35 per litre for the upcoming fortnight, ending on November 15.
Effective from November 1 (Friday), the revised petrol price is now set at Rs248.38 per litre, up from the previous Rs247.03, as per a notification from the Finance Division.
The Finance Division’s statement, released late Thursday, noted that the Oil and Gas Regulatory Authority (OGRA) determined the new consumer prices for petroleum products based on fluctuations in international market prices.
Additionally, the price of high-speed diesel (HSD) has been increased by Rs3.85 per litre, moving from Rs251.29 to Rs255.14 per litre.
Conversely, other petroleum product prices have been reduced. Kerosene oil now costs Rs161.54 per litre, down Rs1.48 from Rs163.02, while light-diesel oil saw a decrease of Rs2.61, bringing the price down to Rs147.51 from Rs150.12.
| Products | Existing Price | New Price | Change |
|---|---|---|---|
| Petrol | Rs247.03 | Rs248.38 | +Rs1.35 |
| High-Speed Diesel | Rs251.29 | Rs255.14 | +Rs3.85 |
| Kerosene | Rs163.02 | Rs161.54 | -Rs1.48 |
| Light Diesel Oil | Rs150.12 | Rs147.51 | -Rs2.61 |
Petrol, primarily used in private vehicles, small cars, rickshaws, and motorbikes, directly affects the budgets of middle- and lower-middle-class families who rely on it for daily commutes. Meanwhile, high-speed diesel, heavily utilized in large goods vehicles, trucks, buses, trains, and agricultural machinery, is considered inflationary, as it impacts the cost of transporting goods, leading to higher prices for vegetables and other essentials.
