On Thursday, the federal government hiked petrol and high-speed diesel prices for the next Two Weeks.
Petrol now costs Rs 248.38 per liter after a Rs 1.35 increase, while high-speed diesel has risen by Rs 3.85 to Rs 255.14 per liter, as per the latest notification.
At the same time, the costs of light diesel and kerosene oil have dropped. According to the notice, kerosene oil would now cost Rs 148.5 per liter, a reduction of Rs 4.92.
“Light diesel prices dropped by Rs 2.61 to Rs 147.51 per liter. On October 28, analysts predicted that petrol prices in Pakistan would fall further starting November 1, driven by a decrease in global oil prices.”
Fuel prices worldwide have dropped by $1.5 and $2.5 per barrel.
Given the present currency rate and tax rates, the government anticipated offering assistance to the populace by lowering the costs of petrol and HSD by Rs3 and Rs2.30 per liter, respectively.