As expected, the outgoing caretaker government of Pakistan has announced a significant increase in petrol, diesel prices following the recommendation of the Oil and Gas Regulatory Authority (OGRA).
Effective from February 16, 2024, the price of petrol has surged by Rs.2.73 per litre, reaching Rs.275.62 per litre for the next fortnight. In addition, the price of high-speed diesel has also seen a substantial hike of Rs.8.37 per litre, now standing at Rs.287.33 per litre.
Also read: Amid Rising Petrol Prices, “Made In Pakistan” E-Motorbikes To Cut Down Fuel Costs By 70%
This decision, communicated through a statement issued by the Finance Division, marks a notable shift in the cost of petroleum products. The adjustment in prices aims to reflect the current market dynamics and ensure the sustainability of the energy sector.
The new prices recommended by OGRA have come into effect immediately and will remain enforced until February 29, 2024, impacting consumers across the nation.
Have anything to add to the story? Let us know in the comments section below!
