Outgoing Government Raises Petrol Price By Rs13.55

ISLAMABAD – The caretaker government of Pakistan has recently declared a substantial surge in the price of petrol for the initial half of February 2024. According to an official notification from the Finance Ministry, the price of petrol has witnessed an escalation by Rs13.55 per litre, reaching a new rate of Rs272.89 per litre.

Simultaneously, the price of high-speed diesel has experienced an increase of Rs2.75 per litre, resulting in the current rate standing at Rs278.96 per litre.

Read more: Petrol Prices May Surge Over Rs. 7/L From Feb 1

These adjustments in fuel prices come as no surprise, as earlier reports had hinted at an imminent rise in fuel costs starting from February 1, citing fluctuations in the international market prices as a contributing factor.

The surge in petrol prices is likely to have various implications on the economy and the general public, impacting transportation costs and overall inflation. As fuel prices play a significant role in shaping the economic landscape, such adjustments are closely monitored for their potential ripple effects on various sectors.

It is important to note that fuel price fluctuations often spark discussions and debates, prompting scrutiny from both policymakers and the public. The announcement of these changes by the caretaker government signifies a response to the dynamics of the global oil market and aims to align domestic fuel prices with the prevailing international trends.