ISLAMABAD:
Owing to the increase in oil prices in the international market and depreciation of the Pakistani rupee, the federal government on Wednesday raised the price of petrol by Rs5 per litre effective immediately.
“In the last fortnight, Platts Singapore prices registered an increase. This along with a depreciation of Pak Rupee has resulted in an increase of POL products in Pakistan,” the finance ministry said a press statement.
According to the ministry, petrol will now be available at Rs272 per litre, as compared to its previous price of Rs267 per litre. Likewise, the government enhanced high-speed diesel (HSD) prices by Rs13, from Rs280 per litre to Rs293 per litre.
Read more: Petrol price slashed by Rs5 per litre
The prices of kerosene oil have been increased by Rs2.56, from Rs187.73 per litre to Rs190.29 per litre. However, the prices of light diesel oil have been kept unchanged at Rs184.68 per litre.
On February 28, the government had reduced the price of petrol by Rs5 per litre.
Petrol is used in motorbikes and cars and is an alternative to compressed natural gas (CNG), especially in Punjab. The government has already decided to increase the rate of petroleum levy in March and April in line with the commitment made with the International Monetary Fund.
Diesel is widely used in the transport and agriculture sectors. Kerosene oil is used for cooking purposes, especially in the remote northern areas of the country where LPG is not available.
The Pakistan Army is also a key user of kerosene in the northern parts of the country.
