The government raised the prices of petrol and HSD by about Rs15 and Rs18, respectively.
The price of gas went up by Rs14.91 per litre, and the price of high-speed diesel (HSD) went up by Rs18.44 per litre.
The Ministry of Finance posted on X (formerly Twitter) after midnight that the price of petrol is now Rs305.36 per litre and the price of HSD is Rs311.84 per litre.https://twitter.com/FinMinistryPak/status/1697325904253342058?ref_src=twsrc%5Etfw
The prices of kerosene and light diesel oil were not changed.
The price hike comes after the caretaker government raised fuel prices by up to Rs20 per litre on August 15. Prices for oil had already gone up on August 1 when the previous government did the same thing.
The price increase is based on current tax rates and import parity prices. It is mostly due to a drop in the value of the currency and a slight rise in oil prices on the international market.
The rupee fell another Rs1.09 against the US dollar on the exchange market today, making its losses even bigger. It ended at Rs305.54, which was a new low.
Since the caretaker government took over, the rupee has lost 4.6% of its value. By August, the rupee had lost 6.2% of its value.