ISLAMABAD – The government has raised the prices of petroleum products, with the Petroleum Division issuing an official notification announcing the increase.
According to the notification, the price of petrol has been increased by Rs6.51 per litre, taking the new price to Rs399.86 per litre.
The price of high-speed diesel has been increased by Rs19.39 per litre, bringing the new rate to Rs399.58 per litre.
The revised prices will come into effect from midnight tonight.
The notification further stated that the petrol levy has been reduced by Rs3.88 per litre, while a levy of Rs28.69 per litre has been imposed on diesel, which previously carried zero levy.
Sources said the price revision was announced today instead of tomorrow due to the May 1 public holiday.
Meanwhile, the spokesperson for Oil and Gas Regulatory Authority said reports circulating on social media about a petroleum dealers’ strike are false, adding that no petroleum association has announced any strike.
The Petroleum Division also clarified that reports claiming petrol pumps will shut down from May 1 are baseless, assuring the public that the supply of petroleum products will continue without interruption.
The division added that petroleum supplies have remained stable since tensions escalated in the Middle East, and uninterrupted supply will continue in the future.
Global oil prices have been fluctuating due to concerns over further military action against Iran, possible blockades, and continued disruption in the Strait of Hormuz, which recently pushed oil prices to a four-year high.
However, prices have now eased in the global market, with Brent crude falling from $124 to $114 per barrel, while WTI crude declined from $110 to $104 per barrel.
