PESHAWAR: The government has raised petroleum product prices which will create additional financial difficulties for consumers who already deal with increasing prices across all goods and services.
The official notification states that petrol prices have risen by Rs7.32 per litre and high-speed diesel prices have increased by Rs5 per litre. The new prices have taken effect immediately across the country.
The new rates will extend their effects throughout the country which will result in higher prices for petrol and diesel at all locations. The increase will result in higher transportation costs which will also cause essential products to become more expensive.
Economists warn that higher fuel costs, particularly diesel, could raise freight charges, which may ultimately impact everyday items used by the public.
Petroleum prices may see fresh hike from Feb 16
Earlier, Prices of petroleum products are expected to rise again starting February 16, following the completion of initial price calculations by the Oil and Gas Regulatory Authority (OGRA), according to sources.
According to sources, petrol is anticipated to increase by Rs4.39 per litre, while high-speed diesel may see a rise of Rs5.40 per litre. Additionally, kerosene oil is likely to become more expensive by Rs4 per litre, and light diesel oil could increase by up to Rs6.55 per litre.
If the proposed summary is approved without any changes, the new price of petrol will be Rs257.56 per litre, and high-speed diesel will be priced at Rs273.78 per litre starting February 16. Kerosene oil is expected to be set at Rs179.80 per litre, while light diesel will be priced at Rs160.96 per litre.
OGRA is preparing to submit its final calculations to the government, after which the Prime Minister’s approval will be requested. Once approved, the Petroleum Division will officially announce the new prices.
The revised rates will be effective for the next 13 days.
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