Govt Raises Petrol & Diesel Prices by Rs15 🚗

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Govt hikes petrol, diesel prices by Rs15 per litre for next week

Petroleum Division says new fuel rates come into effect from May 9

The federal government has increased petrol and diesel prices by nearly Rs15 per litre each for the next week.

In a notification issued on Friday, the Petroleum Division said new fuel rates will come into effect from May 9.

The price of petrol has jumped from Rs399.86 to Rs414.78, while the HSD price increased from Rs399.58 to Rs414.58 per litre.

This marks the third consecutive increase in petrol and diesel prices after cumulative hikes of Rs33.28 on petrol and Rs46.16 on diesel over the previous two weeks.

The government has been reviewing petroleum prices every Friday night amid global oil market volatility linked to the Iran-Israel conflict.

Oil prices were up more than 1% earlier today after renewed fighting broke out between the US and Iran, threatening a shaky ceasefire and dashing hopes for progress on reopening the Strait of Hormuz, a key oil and gas transit route.

Brent crude futures were up $1.41, or 1.41%, at $101.47 a barrel as of 0123 GMT. West Texas Intermediate (WTI) US crude futures rose by $1.12, or 1.18%, to $95.93 a barrel. At the market open prices had risen by more than 3%.


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