The government of Pakistan announced an increase in the prices of petrol and high-speed diesel (HSD) on Monday, with the new rates taking effect on April 16. In a notification, the Finance Division attributed the price adjustment to a rise in international oil prices.
According to the announcement, the price of petrol was increased by Rs4.53 per liter, bringing the new retail price to Rs293.94 per liter. The price of high-speed diesel, which is widely used in the transport and agriculture sectors, was raised by Rs8.14 per liter, setting the new price at Rs290.38 per liter.
The Finance Division stated that the prices for kerosene and light diesel oil would remain unchanged for the current pricing period.
The price revision is part of the government’s regular fortnightly review of petroleum product prices. The adjustments are based on recommendations from the Oil and Gas Regulatory Authority (OGRA), which calculates prices based on global market trends and currency exchange rates from the preceding two weeks.
This latest adjustment follows a series of price revisions since early 2024, reflecting the volatility in the global energy market. Previously, the government has cited international supply concerns, partly linked to geopolitical tensions in the Middle East, as a factor influencing its energy policy and conservation measures.
The government sets domestic fuel prices to align with international costs, a policy often tied to fiscal management and agreements with international financial institutions. The fortnightly reviews are intended to pass on the fluctuations of the global market to domestic consumers. The next price review is scheduled to occur at the end of the month.
; HSD Rs290.38 (up Rs8.14) due to global oil cost adjustments.){kind=link}