Islamabad:
The federal government raised fuel prices on Sunday for the next fourteen days.
According to a notification issued by the Financial Division, gasoline has increased by RS4.80 per year. Liter and high speed diesel (HSD) with RS7.95 per Liter. The hike follows recommendations from Oil and Gas Regulatory Authority (OGRA) and other relevant ministries.
With the increase, gasoline now costs RS258.43 per day. Liters, up from RS253.63, while HSD is priced at RS262.59 per Liter, which rises from RS254.64.
The new awards came into force at midnight on June 16.
The government quoted fluctuations in international oil markets and Rupee’s exchange rate as important causes of adaptation in line with Pakistan’s two -week fuel price review mechanism.
In addition, the government focuses more on collecting petroleum tax to redirect it to subsidize electricity prices.
The government has already decided to increase the petroleum tax rate up to the RS90 per year. Liter when selling oil products.
