The government has announced a Rs5 increase in the price of high-speed diesel (HSD), citing fluctuations in the international market. Starting midnight tonight, the price of HSD will rise from Rs246.29 to Rs251.29 per litre. However, the price of petrol will remain unchanged at Rs247.03 per litre for the next two weeks.
In a notification released on Tuesday, the Finance Division confirmed the price hike. While the government raised the cost of HSD, it made no mention of any changes to the prices of light diesel oil or kerosene.
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This price adjustment follows the government’s regular reviews of fuel prices in response to global market trends. Prior reports had suggested an upcoming increase in fuel prices, particularly after five consecutive reductions. The increase is largely due to the rising international prices of fuel, driven in part by the ongoing crisis in the Middle East.
Over the past two weeks, the price of petrol in the international market has risen by approximately $2.80 per barrel, while the price of HSD surged by about $7 per barrel. The global average price for petrol has climbed to nearly $79 per barrel, up from around $76 per barrel. HSD prices have also increased, rising from roughly $80.50 per barrel to about $87.50 per barrel.
The final price adjustments depend on the exchange rate and tax policies, which are reviewed alongside international market dynamics. The Finance Division indicated that these factors play a key role in the decision-making process. The public should expect that any future changes will also reflect these global shifts and domestic considerations.
This price increase comes at a time when Pakistan is facing economic challenges, with rising fuel costs expected to further strain the public and potentially lead to increased transportation and goods prices.
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