ISLAMABAD: The Pakistani government raised the prices of petrol and diesel on Saturday, adding to the financial strain on the public as inflation continues to rise, ARY news reported
The price of petrol has increased by PKR 3.72 per litre, bringing the new price to PKR 252.10 per litre, according to the official notification. Similarly, the price of high-speed diesel has risen by PKR 3.29 per litre, now set at PKR 258.43 per litre, ARY News reported.
The price hike is due to the high premium on petroleum products in the global market and rising import costs, ARY News reported, citing sources.
On October 31, the Pakistani government had previously announced an increase in petroleum product prices for the upcoming fortnight, raising the price of petrol by PKR 1.35 to PKR 248.38 per litre, and fixing the cost of high-speed diesel at PKR 255.14 per litre, following an increase of PKR 3.85.
Additionally, on November 30, 2024, the Oil and Gas Regulatory Authority (OGRA) raised the price of liquefied petroleum gas (LPG) in Pakistan. The new price for LPG has been set at PKR 254.30 per kilogram for December. As a result, the cost of a domestic LPG cylinder has increased to PKR 3,079.79, up from PKR 2,999.47 in November. The rise in LPG prices has been attributed to the appreciation of the US dollar, ARY News added in its report.
OGRA issued a notification confirming the new prices, effective from December 1. This increase is expected to place additional pressure on Pakistani consumers who are already facing the challenges of rising inflation and escalating fuel prices. (ANI)