The federal government has increased petrol prices by Rs2.43 per litre for the next fortnight, effective from November 1, following recommendations from the Oil and Gas Regulatory Authority (OGRA) and the concerned ministries.
According to a notification issued by the Finance Division, the new price of petrol will be Rs265.45 per litre for the next fifteen days. High-speed diesel (HSD) has also become costlier, rising by Rs3.02 to Rs278.44 per litre. Officials said the adjustment follows OGRA’s latest review.
Kerosene has gone up by Rs3.34 to Rs185.05 per litre, while the price of light diesel oil (LDO) has increased by Rs1.22, reaching Rs163.98.
Earlier this week, it was reported that petroleum prices were expected to rise by up to Rs2.34 per litre in the next fortnight as the global oil market experiences fluctuations and the impact of recent US sanctions on major Russian producers takes place.
Initial estimates for the first 12 days of the pricing cycle had suggested that petrol might rise by Rs1.48 per litre and HSD by Rs1.38. Kerosene was expected to increase by Rs2.34 per litre, and LDO by Re0.49.
Earlier this month, the federal government had reduced fuel prices following a drop in international rates. Petrol was cut by Rs5.66 per litre to Rs263.02, while the price of HSD dropped by Rs1.39 to Rs275.41. The price of kerosene fell by Rs3.26 to Rs181.71, and LDO was set at Rs162.76 per litre.