In a recent development, the federal government has announced an increase in the prices of petroleum products for the second half of January 2025. The new rates, which will come into effect on January 16, 2025, reflect a rise in both petrol and high-speed diesel (HSD) prices.
According to an official notification issued by the Finance Division, the price of petrol has been raised by Rs3.47 per litre, bringing the new price to Rs256.13. Additionally, the price of high-speed diesel (HSD) has been hiked by Rs2.61, making the new rate Rs260.95 per litre. These changes mark a significant shift in fuel pricing, which is expected to have a direct impact on transportation costs, inflation, and the daily expenses of the public.
The increase in petrol and diesel prices comes amid fluctuating global oil prices, which often influence the cost of petroleum products in Pakistan. The government periodically adjusts fuel prices based on international market trends, exchange rates, and other factors affecting the local economy. While these adjustments are necessary to ensure the stability of the oil supply chain, they often face criticism from consumers and various sectors reliant on fuel for their operations.
For motorists and transport services, the new fuel prices could result in higher costs for commuting and logistics. This price hike also raises concerns about the potential impact on inflation, especially in sectors where fuel is a major operational cost.
As the new rates come into effect from January 16, the public and industries across Pakistan will need to adjust to the higher fuel prices, while keeping an eye on future government announcements related to petroleum pricing.
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