The interim federal government announced yet another increase in fuel prices on Thursday, raising the rates of petrol and high-speed diesel.
According to a notification by the Finance Division, the price of petrol has been increased by Rs. 2.73 per liter to Rs. 275.62 per liter. The price of high-speed diesel has seen a steep hike of Rs. 8.37 per liter to Rs. 287.3 per liter. The new rates will be effective from February 16.
This is the second fuel price hike in recent weeks by the interim administration. In the last biweekly review of petroleum prices, the rates of high-speed diesel were raised by Rs. 2.75 per liter to Rs. 278.96 per liter, while petrol prices jumped by Rs. 13.55 per liter to Rs. 272.89 per liter.
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The frequent fuel price revisions are putting additional financial pressure on the common man already grappling with high inflation. The government has defended the hikes citing the rising prices of petroleum products in the international market. However, the opposition parties have protested the untimely increases amidst economic uncertainty.
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