Govt Raises Petrol by Rs5, Diesel by Rs7.32
News Desk
Islamabad: The federal government on Sunday increased the prices of petroleum products, raising petrol by Rs5 per litre and high-speed diesel (HSD) by Rs7.32 per litre for the next fortnight starting February 16.
Following the hike, the price of petrol has been fixed at Rs258.17 per litre, up from Rs253.17. The rate of high-speed diesel has been increased to Rs275.70 per litre from Rs268.38.
According to a notification issued by the Petroleum Division, the revised prices will take effect from February 16 and remain in force for the next 15 days.
In the previous fortnightly review, the government had raised the price of high-speed diesel by Rs11.30 per litre while keeping petrol prices unchanged.
Read More: https://thepenpk.com/petrol-diesel-prices-frozen-as-govt-increases-levies/
Petrol is primarily used by commuters operating small vehicles, motorcycles, and rickshaws. Any increase in its price directly affects the budgets of middle- and lower-middle-income households that depend on private transport for daily commuting.
High-speed diesel, on the other hand, is widely used in the transport and agriculture sectors. Heavy goods vehicles, trucks, buses, and trains largely run on diesel, as do agricultural machines such as tractors, tube wells, and threshers.
Due to its extensive use in goods transportation and farming, an increase in diesel prices is considered inflationary, often leading to higher freight charges and a subsequent rise in the prices of vegetables and other essential food items.
