Prime Minister Anwaarul Haq Kakar-led caretaker government just days before leaving the office on Thursday night increased the price of petrol by Rs4.13 per litre and maintained high-speed diesel for the next fortnight.
The finance ministry in a notification stated that as part of the fortnightly revision of prices of petroleum products, on the recommendation of Oil & Gas Regulatory Authority (OGRA), the Government of Pakistan has decided that the consumer prices, with effect from 1st March, 2024.
It further said that an increase in the prices of petroleum products will be applied from 12 o'clock tonight till March 15.
Following the significant increase, the new price of petrol is Rs279.75 per litre and Rs287.33 per litre for HSD, it added.
In a series of moves, the interim administration has implemented the third consecutive increase, signaling the conclusion of their tenure as an elected prime minister prepares to assume office by week's end, marking the end of the longest caretaker government stint.
Anticipated due to a surge in global oil prices amidst a rebound in demand, the latest price hike was foreseen, as reported by The News, with ongoing tensions in the Middle East further influencing the situation.
