Breaking News: Government Raises Petrol Prices by Rs 7.45 per litre
The federal government has announced a substantial increase in petrol prices, with the new rate set at Rs265.61 per litre. This hike of Rs 7.45 per litre is sure to impact the already burdened public facing inflation.
Furthermore, the price of high-speed diesel (HSD) has also been raised to Rs277.45 per litre, an increase of Rs 9.56 from the previous rate. This change comes after four consecutive price cuts and is attributed to the rise in international market rates.
International prices for petrol and HSD have seen a significant increase, with a rise of $4.4 and $5.5 per barrel, respectively, in the last fortnight. This, coupled with the potential increase in the Petroleum Development Levy (PDL) from the current Rs60 per litre, could lead to even higher domestic prices.
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