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Govt Increases Price of Petrol by Rs. 5, Diesel up by Rs. 13

On Wednesday, the federal government announced another hike in the prices of petroleum products, which will come into effect from March 16. 

As per a press release by the Finance Division, the price of petrol has been raised by Rs. 5, bringing it to Rs. 272 per litre, while the cost of high-speed diesel (HSD) has been increased by Rs. 13 to Rs. 293 per litre. 

Motorcycle and Rickshaw Owners to Get Subsidized Petrol Under New Scheme

The statement from the Finance Division explained that an increase in Platts Singapore prices in the last two weeks, coupled with the depreciation of Pak Rupee, resulted in this surge in prices. 

However, the government has reduced its dues on kerosene oil and kept the price increase to Rs. 2.56, while the price of light diesel oil will remain unchanged after adjusting government dues, the statement added. 

Read More: Production of Petroleum Products Down 10% in First 7 Months of FY23

Consequently, the new price of kerosene will be Rs. 190.29 per litre, and the cost of light diesel oil will remain at Rs. 184.68 per litre.

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