By Staff Reporter
ISLAMABAD: The government on Monday increased high-speed diesel prices by Rs2.78 a liter to Rs272.77 for the next fortnight, a move likely to stoke inflationary pressures across transport and food costs.
Petrol prices remained unchanged at Rs264.61 a liter, according to a Finance Division notification.
The adjustment follows the previous review, where petrol held steady and diesel was cut by Rs3 a liter. Diesel, the backbone of the country’s transport sector, fuels heavy vehicles, trains, and agricultural equipment like trucks, buses, tractors, tube wells, and threshers. Its price hikes directly lift costs for essentials like vegetables.
Petrol, used in private cars, rickshaws, and motorcycles, disproportionately impacts middle- and lower-middle-income households. The price changes are part of the fortnightly review, driven by global crude oil prices and rupee exchange rate fluctuations.
The Oil and Gas Regulatory Authority (OGRA) submitted its proposal to the prime minister for approval, with the Finance Division noting input from OGRA and other ministries.
The government also raised the Inland Freight Equalization Margin (IFEM) for key fuels. Diesel’s IFEM jumped from Rs4.10 to Rs6.31 a liter, while petrol’s rose from Rs6.65 to Rs8.40. Kerosene and light diesel oil saw minor increases.
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