Islamabad [Pakistan], October 27 (ANI): The Pakistan government has announced a fresh hike in petroleum prices, raising petrol by PKR 1.54 per litre and high-speed diesel (HSD) by PKR 2.16 per litre, Dawn reported.
Following the latest revision, petrol will now be sold at PKR 379.25 per litre, while high-speed diesel will cost consumers PKR 395.82 per litre. The administration continues to levy heavy taxes on fuel, maintaining duties of PKR 114 per litre on petrol and PKR 100 per litre on diesel.
According to an official notification issued by the Petroleum Division cited by Dawn, the newly adjusted prices will come into effect from Tuesday, October 27.
In response to persistent turbulence in global energy markets and high domestic fuel prices fueled by the Middle East conflict, the Pakistan government has reintroduced a series of stringent austerity measures, the Dawn reported.
Under the revived conservation directives, commercial markets across the country are mandated to shut down operations by 9:00 PM. Additionally, the administration has slashed fuel allocations for official government vehicles by 50 per cent for an initial period of three months in a bid to rein in public spending and reduce energy consumption.
The austerity drive follows unprecedented volatility in domestic petroleum pricing over recent months. High-speed diesel (HSD), which had surged from PKR 281 per litre following the escalation of regional hostilities in late February, had climbed to a record peak of PKR 520.35 on April 3 before seeing recent downward adjustments, according to the Dawn report.
Similarly, petrol prices witnessed a steep upward trajectory, surging from PKR 266 per litre during the first week of March to reach a historic high of PKR 458.41. (ANI)
Pakistan burdens public again as govt hikes petrol price by Rs 1.54, diesel by Rs 2.16 per litre
