Petrol prices increased by Rs 9 per litre in Pakistan

In a recent announcement, the government has made adjustments to the prices of Motor Spirit (MS) Petrol and High-Speed Diesel, effective from April 1, 2024. According to a press release from the Ministry of Finance, the price of Petrol has been increased by Rs 9 per liter, while the price of High-Speed Diesel has been reduced by Rs 3.32 per liter.

As per the press release, the revised price of Petrol stands at Rs 289.41 per liter, up from its previous rate of Rs 279.75 per liter. Conversely, the price of High-Speed Diesel has been set at Rs 282.24 per liter, down from Rs 285.56 per liter.

The decision to adjust fuel prices comes in response to fluctuations in the international market. Over the last fortnight, the price of petrol has seen an increase, while the price of HSD has experienced a slight decline. In line with the government’s policy of reflecting international market variations in domestic prices, these adjustments have been made to ensure alignment.

Furthermore, the press release highlights that this reduction in the consumer price of HSD follows a previous downward revision made in the middle of March 2024. The government’s aim is to maintain consistency in fuel pricing, ensuring that consumers benefit from changes in global market dynamics.

These adjustments in fuel prices will have implications for consumers and various sectors of the economy. While the increase in petrol prices may impact transportation and daily commuting costs, the reduction in diesel prices could offer relief to industries reliant on diesel for operations.

As the government continues to monitor global market trends, further adjustments to fuel prices may be anticipated in the future. For now, consumers and stakeholders are advised to adapt to the revised rates and plan accordingly for their fuel-related expenses.

Afsheen Gohar

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