Govt keeps petrol price unchanged, hikes diesel by Rs5 per litre
New prices come into effect from October 16, according to official notification
October 16, 2024
KARACHI: The federal government on Tuesday kept the price of petrol unchanged, while hiked high-speed diesel (HSD) by Rs5 per litre for the next fortnight in line with the global oil rates.
The new prices came into effect from September 16, according to an official notification.
"The Oil and Gas regulatory Authority (Ogra) has worked out the consumer prices of petroleum products, based on the price variations in the international market," read a statement released by the Finance Division on late Tuesday.
As per the official statement, the price of HSD rose to Rs251.29 after an increase of Rs5 per litre.
Petrol is mainly used in private transportation, small vehicles, rickshaws, and two-wheelers. Higher fuel prices significantly impact the budgets of the members of the middle and lower-middle classes, who primarily consume petrol for commuting. On the other hand, a significant portion of the transport sector relies on high-speed diesel.
Its price is considered inflationary since it is predominantly used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers.
The consumption of high-speed diesel particularly contributes to the increased prices of vegetables and other food items.
