ISLAMABAD: The government has increased the petrol price in the country by Rs7.45 per liter, raising it from Rs258.16 per liter to Rs265.61 per liter, while the price of diesel has gone up by Rs9.56 per liter for the next fortnight.
The Finance Division officially announced the new prices, stating that they were determined by the Oil and Gas Regulatory Authority (Ogra) based on international market price variations.
According to the notification, the price of high-speed diesel has also been raised by Rs9.56 per liter, now costing Rs277 per liter. “The prices of petroleum products have seen an increasing trend in the international market during the last fortnight,” the official notification read.
In the federal budget for the fiscal year 2024–2025, the government increased the petroleum development levy (PDL) by Rs10 per liter, from Rs60 to Rs70, further burdening the already inflation-tricken populace.
However, earlier today, Finance Minister Muhammad Aurangzeb clarified that the higher tax on petroleum products will not take effect immediately, so the PDL in the most recent fuel price review remains the same.
Earlier, the government had lowered the price of gasoline in each of the last four fortnightly reviews, providing a total relief of Rs35 per liter.
