Pakistan announces updated petroleum prices as diesel costs increase by Rs11.30 per litre.

The federal government has announced updated prices for petroleum products, including an increase in the cost of high-speed diesel while maintaining the current fuel prices.

The official statement indicates that the price of high-speed diesel has increased by Rs11.30 per litre. The revised price of high-speed diesel has been established at Rs268.38 per litre.

Conversely, the price of petrol has been sustained at Rs253.17 a litre, offering transient comfort to customers amidst volatile worldwide oil prices and domestic economic challenges.

The notification confirming the adjusted petroleum prices has been officially released, indicating that the new rates will take effect on February 1 and will be valid for the subsequent 15 days.

In Pakistan, fuel prices are assessed biweekly, considering fluctuations in global oil markets, currency exchange rate variations, and relevant taxes and levies. Petroleum products, especially high-speed diesel, are essential in transportation, agriculture, and industry, rendering price fluctuations a significant concern.