Pakistan hikes petrol, diesel prices in fortnightly review
The notification set the price of petrol at Rs258.43 per liter, up from Rs253.63, while high-speed diesel will cost Rs262.59 per liter, up from Rs254.64.
The revision is based on 'recommendations from the Oil and Gas Regulatory Authority and relevant ministries,' the finance division saiad.
The government did not provide a specific explanation for the hike.
Fuel prices in Pakistan are generally influenced by global oil market trends, currency fluctuations, and changes in domestic taxes.
Fuel costs are revised every two weeks and have a direct impact on inflation. Rising fuel prices increase production and transportation costs, leading to higher prices for goods and services across the board in Pakistan, including food and other essential items. This direct relationship is further amplified by the country's dependence on imported fuel.
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