- Petroleum Division announces new prices.
- Petrol price fixed at Rs 266.17 per litre.
- Diesel hiked by Rs 5.16 to Rs 280.86 per litre.
The federal government hiked the price of petrol by Rs8 per liter for the next fortnight, starting from March 1.
In a notification, the Petroleum Division announced that the price of petrol has been increased to Rs 266.17. per litre, up from Rs 258.17.
Similarly, the price of diesel has been hiked by Rs5.16 to Rs280.86 per liter compared to the previous rate of Rs275.7.
Petrol is mainly used by commuters in small vehicles, rickshaws and two-wheelers. Higher fuel prices greatly affect the budgets of middle- and lower-middle-class households that rely on gasoline for daily travel.
On the other hand, a significant part of the transport sector is dependent on high-speed diesel.
Its price is considered inflationary as it is predominantly used in heavy goods vehicles, trucks, buses, trains and agricultural machinery such as tractors, tube wells and threshers.
The consumption of high-speed diesel contributes in particular to the increased prices of vegetables and other foodstuffs.
