ISLAMABAD: The departing interim administration has raised the price of petrol by Rs2.73 per litre to Rs275.62 per litre for the upcoming two weeks, following the recommendation of the Oil and Gas Regulatory Authority (OGRA).
“Government of Pakistan has opted to adjust the current Petroleum product prices for the fortnight beginning February 16, 2024,” stated the Finance Division.
According to the notification, the cost of high-speed diesel has also been elevated by Rs8.37 per litre to Rs287.33 per litre.
These revised prices, in line with OGRA’s suggestions, have come into effect as of midnight on February 16 and will be maintained until February 29.
The anticipated surge in fuel costs follows adjustments in the exchange rate.
Official sources attribute the significant rise in fuel prices to the escalating situation in the Red Sea, where Houthis are impeding the movement of oil vessels and other ships.
Last month, in response to ongoing tensions in the Middle East, particularly Israel’s ongoing conflict with Gaza, the interim government increased petrol prices by Rs13.55 per litre.
(Islamabad51_Newsdesk)
