
The outgoing caretaker government increased the price of petroleum products by up to Rs4 per litre, keeping in view the summary sent by the Oil and Gas Regulatory Authority (OGRA).
Petrol price in Pakistan — which was announced on Thursday night for the next fortnight — was jacked up by Rs4.13 per litre by the outgoing caretaker government. Meanwhile, the government kept the price of high-speed diesel unchanged at Rs287.33
A notification released by the Finance Division read: "As part of the fortnightly revision of prices of petroleum products, on the recommendation of Oil [and] Gas Regulatory Authority (OGRA), the Government of Pakistan has decided that the consumers' prices, with effect from 1st March 2024 will be as following:"
Products | Existing price w.e.f 15.02.2024 | New price w.e.f 01.03.2024 | Increase/Decrease |
MS (Petrol) | Rs275.62 | Rs279.75 | +Rs4.13 |
High-Speed Diesel (HSD) | Rs287.33 | Rs287.33 | 00 |
Earlier, Geo News, citing industry officials, had reported that a 2%, i.e. Rs5, increase in the price of petrol per litre was expected; meanwhile, the price of high-speed diesel in Pakistan was expected to go up by Rs2 per litre.
It should be noted that the petrol price in Pakistan is revised every 15 days adjusting them to the trend of global oil prices and the rupee’s exchange rate to the dollar.
The fresh prices announced by the government will go into effect on March 1.