Govt leaves petrol price unchanged, raises diesel by Rs1.77/Litre

Islamabad: In its initial fuel price adjustment, the federal government announced on Friday that the price of petrol would remain unchanged while the price of high-speed diesel would rise by Rs1.77 per liter for the upcoming two weeks.

Late into the night, the Ministry of Finance disclosed the revised prices effective from March 15 onwards. The price of high-speed diesel has surged by Rs1.77, reaching Rs285.56 per liter from its previous rate of Rs283.79. This increase may contribute to inflation as high-speed diesel is predominantly used in the transportation sector.

High-speed diesel finds extensive use in heavy vehicles, trains, and various agricultural machinery such as trucks, buses, tractors, tube wells, and threshers. Consequently, its price hike can potentially elevate the costs of vegetables and other essential commodities.

On the other hand, the price of petrol remains stable at Rs279.75 per liter. However, the government has yet to announce the revised prices for kerosene and light diesel oil.

Earlier, on March 1, the caretaker government approved a petrol price hike of Rs4.13 per liter for the subsequent two-week period. This adjustment was made following a recommendation from the Oil and Gas Regulatory Authority (OGRA).

With this adjustment, petrol was priced at Rs279.75 per liter, while the price of high-speed diesel remained unchanged.