File photo. Asif Hassan—AFP
The federal government on Sunday notified fuel prices for the next fortnight, raising the tariff of petrol by Rs. 9.66/liter, while decreasing the price of high-speed diesel by Rs. 3.32/liter.
In a statement, the Finance Division said the new prices would be effective from April 1, adding the adjustments were in line with the government’s policy to pass on to domestic consumers any variations of prices in the international market.
According to the statement, petrol would now cost Rs. 289.41/liter, a Rs. 9.66/liter increase from Rs. 279.75/liter. Meanwhile, the new price of high-speed diesel has been set at Rs. 282.24/liter, a Rs. 3.32/liter decrease from Rs. 285.56/liter. “The price of petrol has increased in the international market during the last fortnight, while the price of HSD has marginally declined,” it added.
The federal government reviews fuel prices every 15 days and adjusts them based on the movements of global oil prices and the exchange rate of the local currency. The hefty increase to petrol prices is likely to impact the transport sector, with prices of most public transport reliant on the rates of petrol.