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Petrol price likely to go up in Pakistan from March 1

05:16 PM | 27 Feb, 2024
Petrol price likely to go up in Pakistan from March 1
Source: File Photo

ISLAMABAD – The federal government is expected to increase the petrol and diesel prices for first fortnight of March 2024, after it jacked up electricity and natural gas prices. 

Reports claimed that the petrol price would go up by Rs4.50 per litre while the diesel price by Rs2.50 per litre. Similarly, the price of the kerosene oil is expected to increase by Rs2.92 per litre. 

The Oil and Gas Regulatory Authority (Ogra) will sent a summary to the Ministry of Petroleum on Feb 29, recommending the increase in petroleum prices. 

In a late night move, Pakistan’s outgoing government announced a massive increase in the electricity base rate in what is said to be another ‘electric shock’ for inflation hit masses.

As people in crisis-hit Pakistan are bearing brunt of record prices, the National Electric Power Regulatory Authority jacked up price of electricity by Rs7.05 in a late-night decision in lieu of fuel adjustment charges for the month of January.

The additional amount that will further burden the masses will be effective in March 2024 – the month of Ramadan. The price surge will not be applicable to lifeline consumers and K-electric consumers.

The latest move by NEPRA will put an additional burden of Rs66 billion on power consumers. 

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 13 April 2024 Forex Rates

Pakistani currency remains largely same against US dollar and other currencies in open market on April 13, 2024.

US Dollar rate in Pakistan

On Saturday, the US dollar was being quoted at 277.4 for buying and 280.65 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 12 April 2024

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