Govt hikes petrol price by Rs4.07 per litre for next fortnight

The federal government has hiked the price of petrol by Rs4.07 per litre for the next fortnight, starting from October 1.

According to a notification issued by the Finance Division, the revised prices are based on recommendations by the Oil and Gas Regulatory Authority (Ogra) and concerned ministries.

With the latest increase, petrol will now cost Rs268.68 per litre, up from Rs264.31. The price of high-speed diesel (HSD) was also raised by Rs4.04, bringing it to Rs276. 18 from Rs272.77 per litre, read the notification. 

In the previous fortnight, the government kept petrol prices unchanged at Rs264.61. However, the price of diesel was increased by Rs2.78 per litre.

Petrol powers small vehicles, rickshaws, and bikes, making price hikes especially hard on middle- and lower-income households who depend on it for daily commuting.

In contrast, a substantial portion of the transport sector depends on high-speed diesel. Its price is considered inflationary due to its widespread use in trucks, buses, trains, and farm machinery, such as tractors and tube wells.

The increased cost of high-speed diesel directly contributes to the rising prices of vegetables and other essential food items.