Islamabad: The government has given the public the first salute of the new year by increasing petroleum product prices. According to the notification issued by the Ministry of Finance, petroleum product prices have been increased by Rs. 2.96 for the next 15 days.
The government has raised the price of petrol by Rs. 0.56 per liter and the price of high-speed diesel by Rs. 2.96 per liter for the next 15 days. The Ministry of Finance has issued the notification, which will take effect from midnight for the next 15 days.
It is noteworthy that Dawn newspaper reported that, considering the impact of global oil prices, the prices of diesel, kerosene oil, and light diesel oil were likely to increase by Rs. 4 to Rs. 5 per liter during the first 15 days of the new year 2025.
Petrol is mainly used in private transport, small vehicles, rickshaws, and motorcycles, directly affecting the budget of the middle and lower classes. However, most of the transport sector operates on high-speed diesel, which is considered a measure of inflation. Diesel is widely used in heavy transport such as trucks, buses, tractors, tube wells, and threshers, particularly affecting the prices of vegetables and other food items.
Currently, the government is collecting approximately Rs. 76 per liter in taxes on both petrol and high-speed diesel.
