ISLAMABAD: Because of the rise in international oil prices and the depreciation of the Pakistani rupee, the federal government raised the price of petrol by Rs5 per litre effective immediately on Wednesday.
“Platts Singapore prices have risen in the last two weeks. This, combined with the depreciation of the Pakistani rupee, has resulted in an increase in POL products in Pakistan,” the finance ministry said in a press release.
According to the ministry, petrol will now be available at Rs272 per litre, down from Rs267 per litre previously. Similarly, the government raised the price of high-speed diesel (HSD) by Rs13, from Rs280 to Rs293 per litre.
Kerosene oil prices have risen by Rs2.56 per litre, from Rs187.73 to Rs190.29 per litre. The price of light diesel oil, on the other hand, has remained unchanged at Rs184.68 per litre.
The government reduced the price of petrol by Rs5 per litre on February 28.
Petrol is used in motorcycles and automobiles and is a cheaper alternative to compressed natural gas (CNG), particularly in Punjab. In accordance with its commitment to the International Monetary Fund, the government has already decided to raise the petroleum levy rate in March and April.
Diesel is widely used in the transportation and agricultural industries. Kerosene oil is used for cooking, particularly in the country’s remote northern regions where LPG is unavailable.
In the northern parts of the country, the Pakistan Army is another significant user of kerosene.