Massive increase in Petrol prices in Pakistan (Feb-2024)

As of February 1, 2024, the interim government has implemented a significant increase in the petrol price, amounting to Rs 13.55 per liter taking it to Rs 272.89 per liter while diesel has seen a hike of Rs 2.75, bringing it to Rs 278.96 per liter.

This adjustment is part of Pakistan’s regular bi-weekly revisions of petroleum prices, based on recommendations from the Oil and Gas Regulatory Authority (OGRA).

The Finance Division has stated in its notification that the government has decided to change the current petroleum prices for the next 14 days from February 1, 2024. As a result, the price of petrol has surged by Rs13.55, reaching Rs 272.89 per liter, while diesel has seen a hike of Rs2.75, bringing it to Rs 278.96 per liter, as per the notification.

These new prices have already been implemented. It’s important to highlight that this price hike is taking place amid ongoing tensions in the Middle East, including the conflict between Israel and Gaza and the Houthi attacks on shipping vessels in the Red Sea.

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