Mettis Global News
Mettis Global News
Mettis Global News
Mettis Global News

CPI Preview: Inflation to fall below 14% YoY in May

Govt hikes petrol price by Rs4.53, diesel by Rs8.14

Govt revenue from petroleum levy surges 98.5% YoY in 9MFY24
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April 15, 2024 (MLN): The federal government has increased the price of petrol by Rs4.53 per litre to Rs293.94, said a notification issued by the Finance Division.

Likewise, the price of High-Speed Diesel (HSD) has been hiked by Rs8.14 to Rs290.38 per litre.

The new prices will remain in effect for the second half of April, 2024 and are based on the recommendations of the Oil and Gas Regulatory Authority (OGRA).

It is important to note that the recent impact of the Middle East escalation is yet to materialise, which can further push up fuel prices in the coming months.

During the last 15 days, the price of gasoline in the world market increased by $3.82 per barrel, the spokesperson of the Ministry of Finance said.

Similarly, the price of high-speed diesel also rose by $4.30 per barrel, resulting in the government to call for a fuel rate hike.

To recall, in the last fortnight, the government increased the price of petrol by Rs9.66 to Rs289.41 per litre.

Conversely, the price of High-Speed Diesel (HSD) was slashed slightly by Rs3.32 to Rs282.24 per litre.

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