The federal government on Sunday increased the price of petrol by over Rs9.66 per litre, effective from April 1, 2024 — a decision which could have a serious inflationary impact on the lives of ordinary citizens.
According to a notification issued by the finance ministry, the price of petrol was increased as per the recommendation of the Oil & Gas Regulatory Authority (Ogra).
However, the government has also decided to decrease the tariff of high-speed diesel (HSD) by Rs3.32. After the hike, the price of petrol reached Rs289.41 while HSD is available at Rs282.24.
The recent increase in petrol prices is attributed to a rise in the premium from $12.15/barrel to $13.507/barrel, marking a $1.45/barrel increment.
More to follow…