Govt Raises Petrol, Diesel Prices for Next Fortnight

ISLAMABAD: The federal government on Sunday announced an increase in fuel prices, raising the cost of petrol by Rs5 per litre and high-speed diesel by Rs7.32 per litre for the next fortnight, starting February 16.

Following the hike, the new price of petrol has been set at Rs258.17 per litre, up from Rs253.17. Meanwhile, high-speed diesel will now cost Rs275.70 per litre, compared to the previous rate of Rs268.38.

The Petroleum Division issued a notification confirming that the revised prices will take effect from February 16 and remain in place for the upcoming 15 days.

In the previous price review, the government had increased high-speed diesel by Rs11.30 per litre while keeping petrol prices unchanged.

Petrol is widely used by commuters in small vehicles, rickshaws and motorcycles, meaning any increase directly affects the daily travel budgets of middle and lower-middle class households.

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High-speed diesel, on the other hand, is a key fuel for the transport and agriculture sectors. It is primarily used in heavy vehicles such as trucks, buses and trains, as well as tractors, tube wells and other farming machinery.

Economists note that diesel price hikes are often considered inflationary, as they contribute to higher transportation costs, which in turn push up the prices of vegetables, food items and other essential goods.