KARACHI: Pakistan has increased the prices of petroleum products by as high as Rs3 per liter, the country’s finance division said late Friday.
The government increased the price of petrol by Rs2.43 per liter to Rs265.45 and that of high-speed diesel by Rs3.02 to Rs278.44 per liter, according to a finance division notification.
The prices of superior kerosene oil and light diesel oil were maintained at Rs181.71 and Rs162.76 per liter respectively. The new prices have already taken effect.
“The government has revised the prices of the petroleum products following input from the Oil & Gas Regulatory Authority (OGRA) and the relevant Ministries,” the finance division said in its notification.
Fuel prices in Pakistan are adjusted every two weeks and are influenced by global oil market trends, currency fluctuations and changes in domestic taxation. The mechanism ensures that the net impact of changes in import costs is passed on to consumers, helping sustain the country’s fuel supply chain.
Petrol is mostly used for private transport, small vehicles, rickshaws and two-wheelers, while diesel powers heavy vehicles used for transportation of good across the South Asian country.
Any increases have a direct impact on inflation, raising production and transportation costs and driving up the prices of essential goods and services, particularly food. The effect is further amplified by Pakistan’s reliance on imported fuel.
On Oct 16, the government had reduced the price of petrol by Rs5.66 per liter to Rs263.02 and that of high-speed diesel by Rs1.39 to Rs275.41 per liter, according to a finance division notification.
