Islamabad:
The federal government increased fuel prices for the next fortnight on Sunday.
According to a notification issued by the Finance Division, gasoline has increased by RS4.80 per liter and high -speed diesel (HSD) in RS7.95 per liter. The walk follows the recommendations of the Petroleum and Gas Regulatory Authority (OGRA) and other relevant ministries.
With the increase, gasoline now costs RS258.43 per liter, compared to RS253.63, while HSD has a price of RS262.59 per liter, which increases from RS254.64.
The new rates entered into force at midnight on June 16.
The government cited fluctuations in international oil markets and the exchange rate of rupee as key reasons for adjustment, in line with the Pakistan fuel pricing mechanism.
In addition, the government is focusing more on collecting oil tax to redirect it to subsidize electricity prices.
The government has already decided to increase the oil collection rate to RS90 per liter in the sale of oil products.
