Govt jacks up prices of petroleum products

The federal government on Wednesday jacked up the prices of petroleum products by up to Rs13 per litre with immediate effects.

Sources report that the price of petrol was fixed at Rs272 a litre after the federal government announced a rate rise of Rs 5 per litre.

While this is going on, the price for high-speed diesel (HSD) has gone up by Rs13 per litre to Rs293. Kerosene oil's cost has increased by Rs 2.56, making the current price of a litre of kerosene oil Rs190.29.

However, the price of light diesel has remained unchanged.

It is important to note that the federal government reduced petrol prices on February 20, 2023, with an impact beginning on March 1, 2022, by up to Rs5 a litre.

Finance Minister Ishaq Dar announced that the federal government had cut the petrol price by Rs5 per litre, bringing it down from the previous Rs272 per litre to Rs267 per litre.

According to Ishaq Dar, the price for high-speed diesel (HSD) will stay at Rs280 per litre.

The prices of Kerosene oil have been reduced by Rs15 per litre, from Rs202.73 per litre to Rs187.73 per litre whereas that of Light Diesel Oil has been reduced from Rs196.69 per litre to Rs184.68 per litre, a decline of Rs12.