ISLAMABAD: With Eidul Fitr falling on the next weekend, the government on Saturday raised the price of petrol by Rs10 per litre but left those of high-speed diesel and light diesel oil unchanged.

Finance Minister Ishaq Dar appeared on state-run television to announce the new fuel rates, which he linked to an increase in global oil prices and the exchange rate variation.

According to a finance ministry notification, the price of petrol has risen to Rs282 after the latest hike. The prices of diesel and light diesel oil would remain unchanged at Rs293 and Rs174.68, respectively. The price of kerosene has been raised by Rs5.78 to Rs186.07.

The revised prices will remain effective until the end of this month.

During the previous fortnight, from April 1-15, the daily consumption of petrol in the country was around 20,000 tonnes and that of high-speed diesel was 15,500 tonnes.

It is estimated that around Rs8,000 to 10,000 tonnes of high-speed diesel was being smuggled into Pakistan daily, while the demand for Iranian petrol was less due to its slightly lower quality and the overall reduction in petrol demand.

Published in Dawn, April 16th, 2023