ISLAMABAD: The federal government on Tuesday kept the price of petrol unchanged but raised the cost of high-speed diesel (HSD) by Rs5 per litre for the next two weeks, following global oil price trends. The new rates took effect on September 16, according to an official notification.
A statement from the Finance Division explained that the Oil and Gas Regulatory Authority (Ogra) calculated the new consumer prices for petroleum products based on international market fluctuations.
According to the statement, the price of HSD increased to Rs251.29 per litre after the Rs5 hike. Petrol, widely used in private transportation, small vehicles, rickshaws, and motorcycles, has a significant impact on the middle and lower-middle classes, who primarily rely on it for commuting. Meanwhile, HSD is crucial to the transport sector and is used extensively in heavy goods vehicles, buses, trains, and agricultural machinery such as tractors and tube wells.
The price of HSD is considered inflationary, as its increased cost contributes to higher prices for food items, including vegetables, due to its key role in the transportation of goods.
