Petrol price jacked up, diesel’s slashed

ISLAMABAD: The government on Sunday increased price of petrol by Rs9.66 per litre but slashed the price of high speed diesel (HSD) by Rs3.32 per litre, ARY News reported on Sunday.

With the latest announcement, the price of petrol has been increased from Rs279.75 to Rs289.41 per litre; while the high speed diesel (HSD) rate reduced to Rs282.24 from Rs278.92.

The Finance Ministry said in a statement that the changes were due to a corresponding rise in petrol prices and a decrease in HSD prices in the international market.

It added the change was in line with the government’s policy of passing on price variations in the international market to the domestic market. The new prices of petroleum products will be effective from April 1, 2024 (today).

Meanwhile, the prices of kerosene oil and light-diesel oil were reduced by Rs2.27 and Rs.38 per litre, respectively, to Rs186.39 and Rs167.80.

Kerosene is mostly used by unscrupulous elements, who mix it with petrol, and to some extent for lighting and heating in remote areas. Light diesel oil is consumed by flour mills and a couple of power plants.

The decision followed up on Prime Minister Shehbaz Sharif’s announcement on March 15 in which he increased the price of diesel by Rs1.77 per litre while keeping the price of petrol unchanged.