ISLAMABAD: The federal government on Tuesday announced a hike in petroleum prices, raising petrol by Rs4.07 and high-speed diesel (HSD) by Rs4.04 per litre for the next fortnight.
According to the Finance Division, the new price of petrol stands at Rs268.68 per litre, up from Rs264.61, while HSD has risen to Rs276.81 from Rs272.77. The decision was made on the recommendations of the Oil and Gas Regulatory Authority (Ogra) and relevant ministries.
Petrol, widely used in motorcycles, rickshaws, and private vehicles, directly impacts middle- and lower-income households, whereas HSD powers heavy transport, agriculture, and trains, driving inflationary pressures.
Currently, the government charges no GST on petroleum products but imposes substantial levies, including Rs79.50 per litre on diesel and Rs80.52 on petrol and high-octane, covering Rs2.50 per litre under the CSL. Additionally, customs duties of Rs16–17 per litre apply to both fuels, regardless of local production or imports.
Meanwhile, Ogra notified a reduction in liquefied petroleum gas (LPG) prices by Rs6.70 per kg for October. The price of an 11.8kg domestic cylinder has dropped by Rs79.14 to Rs2,448.33, down 3.13pc from September. Ogra attributed the cut to a 3.78pc fall in Saudi Aramco-CP, partially offset by a 0.23pc rise in the average US dollar exchange rate.
