ISLAMABAD, October 16,2024: The federal government has increased the price of diesel by Rs5 per litre, while the rate of petrol will remain the same for the upcoming fortnight.
This is the first price hike in petroleum products in three months, a period during which prices had consistently declined due to falling international market rates.
The Ministry of Finance stated that the ex-depot price of high-speed diesel (HSD) has been set at Rs251.29 per litre, up from Rs246.29.
In contrast, the price of petrol has been maintained at Rs247.03 per litre for the next fortnight.
In the retail market, petrol is being sold at Rs248 to Rs248.50 per litre, while diesel prices have climbed to around Rs252 per litre.
The Ministry of Finance attributed the diesel price increase to a rise in international market rates, where the price of diesel has surged by approximately $1.5 per barrel. Meanwhile, petrol prices have remained stable globally.