Petrol Price Hiked in Pakistan, Diesel Price Reduced

Lahore, Pakistan – April 1, 2024

The Pakistani government, led by the newly elected officials, announced a hike in petrol prices effective today, April 1st. This decision comes amidst rising global crude oil prices.

The price of petrol has been raised by Rs. 9.66 per liter, bringing the new price to Rs. 289.41 per liter. This represents a significant increase from the previous price of Rs. 279.75 per liter.

However, there is some relief for consumers as the price of High-Speed Diesel (HSD) has been reduced by Rs. 3.32 per liter. The new price of HSD now stands at Rs. 282.24 per liter.

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The government attributed the price hike to the recent surge in global crude oil prices. They claim the adjustment reflects a policy of passing on international price variations to the domestic market.

This decision is likely to have a cascading effect on transportation costs and the overall price of goods. It’s expected to impact citizens, particularly those who rely on petrol-powered vehicles for transportation and commute.

The announcement, made just before midnight on Sunday, has drawn mixed reactions. Some criticize the timing of the hike, considering the upcoming Eid al-Fitr celebrations. Others express concern about the potential inflationary impact on essential goods.