TRADE & ECONOMY
The Government of Pakistan has announced a fresh revision in petroleum product prices, increasing petrol and high-speed diesel rates while slightly reducing the price of Liquefied Petroleum Gas (LPG), providing limited relief to consumers.
According to a notification issued by the Ministry of Finance, the price of petrol has been increased by Rs2.43 per liter, bringing the new rate to Rs265.45 per liter. Similarly, high-speed diesel (HSD) has seen an increase of Rs3.20 per liter, with the new price now set at Rs278.44 per liter.
The ministry stated that the new prices reflect recent global market trends and exchange rate fluctuations. The revised rates have come into effect from today.
However, consumers received some relief as the Oil and Gas Regulatory Authority (OGRA) announced a decrease in LPG prices. According to OGRA’s notification, the price of LPG has been reduced by Rs5.89 per kilogram, setting the new rate at Rs201.60 per kg.
In line with the reduction, the price of an 11.8 kg domestic LPG cylinder has also been reduced by Rs69.44, bringing the new retail price to Rs2,378.89.
The new adjustment follows the government’s fortnightly review of petroleum product prices, a process linked to international crude oil prices and the rupee’s performance against the dollar.
Economic analysts noted that while the reduction in LPG prices will slightly benefit households, the increase in petrol and diesel rates is likely to add pressure on transport costs and inflation, further impacting the public amid ongoing economic challenges.