ISLAMABAD:
The federal government increased the prices of petrol by Rs 3.47 per liter and diesel by Rs 2.61 per liter for a fortnight till the end of January, due to the resulting rise in international oil prices by American sanctions on oil exports to China and India.
According to a notification issued by the Finance Ministry on Wednesday evening, the price of petrol has been increased from Rs252.66 to Rs256.13 per liter and that of high-speed diesel from Rs258.34 to Rs260.95 per litre.
“The Oil and Gas Regulatory Authority (OGRA) has established consumer prices of petroleum products taking into account international market fluctuations over the last fortnight,” the official statement said. The increase is attributed to rising global prices, driven by US sanctions on oil exports to China and India.
U.S. President Joe Biden’s administration last week imposed its broadest set of sanctions yet, targeting Russia’s oil and gas revenues. Following these sanctions, the price of crude oil exceeded $81 per barrel, its highest level since August 2024.
Last time, the government increased the price of petrol by Re 0.56 per liter on New Year’s Eve for the first fortnight of 2025. The latest prices of petroleum products would come into effect immediately and remain in force until January 31.
