Petrol price kept unchanged; diesel jumps by Rs1.77

ISLAMABAD: In its first fuel price revision announcement, the federal government on Friday left the price of petrol unchanged but increased the price of high-speed diesel by Rs1.77 per litre for the next fortnight, ARY News reported.

In a late-night announcement, the Ministry of Finance announced the new prices for the next fortnight, starting from March 15.

The diesel price has gone up by Rs1.77 with immediate effect to Rs285.56 per litre from Rs283.79 earlier. Since this fuel is mostly used by the transport sector, a hike in its price is considered inflationary.

The fuel is used in heavy vehicles, trains and agricultural engines like trucks, buses, tractors, tube wells and threshers and particularly adds to the prices of vegetables and other eatables.

Meanwhile, the petrol price was kept unchanged at Rs279.75 per litre.

However, the government did not announce the prices of kerosene and light diesel oil.

Earlier on March 1, the Pakistan government – which was being handled by a caretaker setup – approved a hike in the price of petrol by Rs4.13 per litre for the next fortnight.

The Finance Ministry increased the price on recommendation of the Oil and Gas Regulatory Authority (OGRA).

Following the increase, petrol was being available at Rs279.75 per litre, while the price of the High-Speed Diesel (HSD) was kept unchanged.