Islamabad, Nov 1: Pakistan’s federal government has announced raising petrol price in Pakistan by Rs 1.35 per liter for the next two weeks, starting today.
This shift is consistent with changes in the global market.
According to a statement from the Finance Division, the petrol price in Pakistan has increased from Rs 247.03 per litre to Rs 248.38 per liter.
“The Oil [and] Gas Regulatory Authority (OGRA) has worked out the consumer prices of petroleum products, based on the price variation in the international market,
” The Finance Division stated in a statement released late Thursday.
Interestingly, high-speed diesel (HSD) now costs Rs 3.85 more per litre.
The price has increased from Rs 251.29 per liter to Rs 255.14 per litre.
A number of other petroleum products have seen price reductions in the interim.
Kerosene will now cost Rs 161.54 per liter, a reduction of Rs 1.48 from the previous price of Rs 163.02.
The cost of light diesel oil has also decreased by Rs 2.61, from Rs 150.12 to Rs 147.51 per liter.
The rising global prices associated with the current Middle East crisis are the main factor affecting Pakistan’s petroleum prices.
The nation still suffers from high levels of smuggling and illegal commerce, and its energy security depends on foreign actors.
The price of gasoline from Rs 249.10 to Rs 247.03 per litre on October 1 by Rs 2.07 per litre for the following two weeks.
Over 79 percent of Pakistan’s energy needs are met by oil and gas,
Making them important parts of the country’s energy mix.
More economic strain is expected to be placed on the nation’s population,
who are already feeling the effects of climate change, price increases, and instability in global markets.
