The federal government has announced an increase in the price of high-speed diesel while maintaining the current price of petrol. Effective October 16, petrol will continue to be sold at Rs. 247.03 per liter, but diesel will see a rise of Rs. 5 per liter, setting the new price at Rs. 251.29.
The Oil & Gas Regulatory Authority (OGRA) determined these adjustments based on recent trends in the international market, according to a brief statement from the finance ministry.
In the last adjustment cycle, petrol prices were reduced by Rs. 2.07 per liter and diesel prices were cut by Rs. 3.40 per liter. These changes reflect ongoing fluctuations in global fuel markets and have significant implications for consumers, particularly those reliant on diesel for transportation and industrial purposes.
The increase in diesel prices is expected to affect the overall cost of goods and services, potentially influencing inflation rates. However, the stabilization of petrol prices may help mitigate some travel costs for motorists. The balance of fuel prices continues to play a significant role in shaping economic conditions and household expenditures.
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