Govt raises petrol price by Rs14.92, diesel by Rs15

The federal government has increased the prices of petroleum products, taking the price of petrol to a record PKR 414.78 per liter.

According to a late-night notification issued by the Finance Division, the price of petrol has been raised by PKR 14 per liter with immediate effect. The decision was made after the government’s regular review of fuel prices based on changes in international oil markets and currency rates.

The increase is expected to create more difficulties for people already struggling with inflation. Experts say higher fuel prices will likely increase transport fares and raise the prices of daily-use items across the country.

Officials say the decision was necessary because global crude oil prices have gone up, and the government needs to maintain local fuel prices in line with international rates.

However, the move has caused concern among the public, especially commuters, shopkeepers, and business owners. Analysts believe the sharp increase could affect the entire supply chain and push inflation even higher in the coming weeks.

For many citizens, petrol crossing the PKR 400 mark is being seen as another major challenge during the country’s ongoing cost-of-living crisis.