Business Desk 
Feb 15, 2024
An undated image of Pakistan State Oil petrol pump. — APP/File
The outgoing caretaker government has increased the prices of petrol by Rs 2.73 per litre and that of high-speed diesel (HSD) by Rs 8.37 per litre for the second fortnight of February, effective from today [Friday].
After the increase, the price of petrol will go up from the previous Rs 272.89 per litre to Rs 275.62 per litre and the price of the HSD will go up from the previous Rs 278.96 per litre to Rs 287.33 per litre.
Finance Division released an official statement, stating that the government of Pakistan has decided to bring changes in the current prices of Petroleum products for the fortnight "as recommended by the Oil and Gas Regulatory Authority (OGRA)".
The new prices, have taken effect from this midnight (February 16) and will remain in place till February 29.
| Products | Existing price w.e.f 01.02.2024 | New price w.e.f 15.02.2024 | Increase/Decrease |
| MS (Petrol) | Rs 272.89 | Rs 275.62 | +Rs 2.73 |
| High-Speed Diesel (HSD) | Rs 278.96 | Rs 287.33 | +Rs 8.37 |
It should be noted that on January 31, the caretaker government increased the petrol price by Rs 13.55 per litre in light of ongoing tensions in the Middle East as Israel continues to press war on Gaza.
The latest increase in prices of petrol and high-speed diesel was expected after the exchange rate adjustment.
Geo News, citing sources, reported that the main hike in fuel prices comes in the wake of the alarming situation in the Red Sea where Houthis are attacking and restricting the movement of oil vessels and other ships.
