The Finance Division on Saturday night announced a Rs1 per litre increase in the price of petrol, raising it from Rs252.63 to Rs253.63. Meanwhile, the price of high-speed diesel (HSD) remains unchanged for now.
According to an official notification, the latest adjustment was made on the recommendation of the Oil and Gas Regulatory Authority (Ogra) and relevant ministries.
This revision comes after a series of fortnightly adjustments over the past two months. On May 16, the government had opted to maintain petrol prices at Rs252.63 per litre, while reducing the HSD price by Rs2 to Rs254.64. Prior to that, on April 30, both petrol and diesel prices were cut by Rs2 per litre each. The current increase in petrol price, although marginal, reverses a downward trend seen since mid-April.
While the price of liquefied petroleum gas (LPG) was reduced by Rs4.62 per kilogram earlier this month, offering some relief to consumers, attention has now shifted back to the upward movement in petrol prices.
Earlier in April, Prime Minister Shehbaz Sharif stated that instead of direct fuel price cuts, the benefits of declining global oil prices would be passed on to the public through development projects. This policy stance appears to remain consistent as the government navigates fiscal pressures and global market dynamics.
