Govt sticks to the script, hikes fuel prices again
The federal government has announced a price hike for petroleum products, raising the cost of petrol by Rs8.36 per litre and high-speed diesel (HSD) by Rs10.39 per litre, according to a notification issued by the Finance Division late Monday night. The price of petrol has increased from Rs258.43 to 266.79 per litre, while HSD now costs Rs272.98 per litre, up from the previous Rs262.59. The new rates came into effect immediately from July 1. This adjustment follows recommendations from the Oil and Gas Regulatory Authority (OGRA) and relevant ministries. The government stated that the rise in fuel prices is a result of fluctuating international market trends, which have impacted global oil prices. Fuel prices in Pakistan are reviewed fortnightly, with adjustments based on changes in international oil prices and the local currency exchange rate. On June 15, the government also increased the prices of petroleum products by up to Rs7.95 per litre. Based on the recommendations of the Oil and...