Petrol and HSD Prices Increased

ISLAMABAD:

The caretaker government on Friday night pushed through another hike in the prices of petrol by Rs26.02 per litre and high-speed diesel (HSD) by Rs17.34 per litre.

The increase brings the price of petrol to Rs331.38 per litre while HSD is Rs329.18 per litre, the Ministry of Finance said in a post on X (formerly Twitter) after midnight.

Reason for the Increase

It added that the decision was taken owing to the increasing trend of petroleum prices in the international market.

No revision was specified in the rates of kerosene or light diesel oil.

Previous Hikes

The price increase comes on the heels of an already massive hike on Sept 1, when the interim government raised fuel prices by up to Rs18 per litre. That jump in petroleum prices had come after similar hikes by the interim government on Aug 15.

Factors Influencing the Price Hike

The price hike is based on existing tax rates and import parity prices, mainly because of currency fluctuation and a slight inc­rease in international oil prices.