ISLAMABAD ( WNAM REPORT ): The price of petrol has been increased by more than Rs5 per litre for the next fortnight, starting from July 16, the Finance Division said on Tuesday.
Petrol’s price has been hiked to Rs272.15 per litre after an increase of Rs5.36 per litre, while the price of diesel has surged to Rs284.35 per litre after a change of Rs11.37 per litre.
In a statement, the Finance Division said that the government has revised the prices of petroleum products based on the recommendations of Oil and Gas Regulatory Authority (Ogra) and the relevant ministries.
In the previous fortnight, the petrol rate was hiked by Rs8.36 per litre following fluctuations in international crude oil prices. The price of diesel was also raised by Rs10.39.
Petrol powers small vehicles, rickshaws, and bikes, making price hikes especially hard on middle- and lower-income households who depend on it for daily commuting.
In contrast, a substantial portion of the transport sector depends on high-speed diesel. Its price is considered inflationary due to its widespread use in trucks, buses, trains, and farm machinery, such as tractors and tube wells.
The increased cost of high-speed diesel directly contributes to the rising prices of vegetables and other essential food items.
