Caretaker govt raises petrol price on its way out
The federal government has hiked the price of petrol by Rs4.13 for the next fortnight. However, the price of dielsel has been left unchanged.
With the increase, the price of petrol is now set at Rs279.75 per litre.
The government has not changed the prices of light diesel and kerosene.
The prices were announced through a notification by the Ministry of Finance on Thursday night and will be applicable from March 1.
| Fuel | Old price | New Price | Change |
|---|---|---|---|
| Petrol | 275.62 | 279.75 | 4.13 |
| Diesel | 287.33 | 287.33 | 0 |
| Light Diesel | 166.86 | 166.86 | 0 |
| Kerosene | 186.62 | 186.62 | 0 |
On February 14, the government hiked the price of petrol by Rs2.73 and the price of diesel by Rs8.37.
Fuel prices are revised every fortnight in Pakistan based on recommendations from the Oil and Gas Regulatory Authority.
The prices are influenced by a number of factors including international prices as well as the exchange rate of the dollar against the rupee, as most of Pakistan’s oil is imported.
In turn, the prices of oil have wide ranging effects for Pakistan’s economy, including the price of essential items.
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