Petrol price increased by Rs 1.35 per liter for the next fortnight

• The price of high-speed diesel has been increased by Rs 3.85 per litre.
• Kerosene, LDO fell by Rs 1.48, Rs 2.61, respectively.
• HSD is considered inflationary as it is used in heavy goods.
  

ISLAMABAD: Against market expectations, the federal government has increased the price of petrol by Rs 1.35 per liter for the next fortnight ending November 15.

The new fuel prices came into effect from November 1 (Friday).

According to a notification issued by the Finance Department, the new price of petrol will be Rs 248.38 per litre, up from Rs 247.03.

“The oil [and] The Natural Gas Regulatory Authority (OGRA) has calculated the consumer prices of petroleum products, based on the price fluctuation in the international market,” said a statement released by the Finance Directorate late on Thursday.

Similarly, the price of high speed diesel (HSD) has been increased from Rs 251.29 to Rs 255.14 per liter — an increase of Rs 3.85 per litre.

Meanwhile, prices of other petroleum products have declined.

The new price of kerosene will be Rs 161.54, down by Rs 1.48 from Rs 163.02 per litre.

Similarly, the price of light diesel fell by Rs 2.61 from Rs 150.12 to Rs 147.51 per litre.

Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers. Higher fuel prices have a significant impact on the budgets of members of the middle and lower middle classes, who mainly use gasoline for their transportation. On the other hand, a significant part of the transport sector relies on high-speed diesel.

Its price is considered inflationary as it is mainly used in heavy goods vehicles, trucks, buses, trains and agricultural machinery such as tractors, tube wells and threshers.

The consumption of high-speed diesel is a major contributor to the increased prices of vegetables and other food items.