Govt likely to hike petrol price by Rs10 per litre

March 30, 2024 (MLN): Following the upward rally in the international market, the government is likely to hike the price of petrol by around Rs10 per litre for the first half of April 2024.

Price estimates till March 28, 2024 (Thursday), indicate the ex-refinery price of petroleum has risen compared to the previous fortnight's price.

On the other hand, the government may decrease the price of high-speed diesel (HSD) by around Rs1.3 due to a marginal drop in its price.

It is important to note that the commodity market was closed on Friday on account of the Good Friday holiday.

Despite the marginal appreciation of the Pakistani Rupee (PKR) against the USD this fortnight, the government is still most likely to raise petrol prices as the gains have been overshadowed by rising costs globally.

The government will announce the new prices at midnight on March 31, 2024, and they will remain in effect for the first half of April.

To recall, in the last fortnight, the government decided to keep the price of petrol unchanged at Rs279.75 per litre.

Meanwhile, the price of High-Speed Diesel (HSD) was slashed slightly by Rs1.77 to Rs285.56 per litre.

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