ISLAMABAD: The Federal Government on Tuesday announced an increase of 56 paisa per litre in the price of petrol while the price of high-speed diesel (HSD) diesel jacked up by Rs2.96 per litre for the first fortnight of New Year starting January 1, 2025.
According to a notification issued late on December 31, the price of petrol has been increased by 56 paisa per litre and the new price of petrol has been set at Rs252.66 per litre.
Similarly, the price of high-speed diesel witnessed an increase of Rs2.96 per litre, with the new price HSD stands at Rs258.34 per litre.
These changes come as part of regular adjustments in fuel prices, which are influenced by international market trends and local economic conditions.
The government of Pakistan on December 15 announced new petrol and diesel prices.
As per details, petrol prices remain stable at Rs252.10 per litre. High-speed diesel prices have decreased by Rs3.05 per litre, with the new price set at Rs255.38 per litre.
In addition, the price of kerosene oil has decreased by Rs3.32 per litre, with the new price set at Rs161.66 per litre. Light diesel oil prices have also decreased by Rs2.78 per litre, with the new price set at Rs148.95 per litre.
The Ministry of Finance has issued a notification regarding the new prices, which will come into effect at 12 am tonight.
It’s worth mentioning here that the government’s inability to reduce the petroleum levy has resulted in a significant increase in petroleum prices, with prices rising by Rs12.14 per litr over the past month and a half.
According to sources, the price of high-speed diesel was increased by Rs12.14 per litre since October 16, while the price of petrol was risen by Rs5.07 per litre during the same period.
The government could have reduced the levy to prevent the price hike, but the IMF program restrictions prevented it, sources revealed.
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