Islamabad:
The federal government increased fuel prices on Sunday for the next fortnight.
According to a notification issued by the Finance Division, petrol was increased by RS4.80 per liter and high -speed diesel (HSD) of 7.95 rupees per liter. The hike follows the recommendations of the Authority for Petroleum and Gazière (OGRA) and other relevant ministries.
With the increase, petrol now costs RS258.43 per liter, against RS253.63, while the HSD is at the price of RS262.59 per liter, going from RS254.64.
The new prices entered into force at midnight on June 16.
The Government has cited fluctuations in international oil markets and the exchange rate of the roupire as main reasons for adjustment, in accordance with the Pakistan fuel price review.
In addition, the government focuses more on the collection of petroleum samples in order to redirect it to subsidize electricity prices.
The government has already decided to increase the oil levy rate to Rs90 per liter on the sale of petroleum products.
