Petrol price to remain unchanged for next two weeks, In accordance with international market fluctuations, the federal government has increased the price of high-speed diesel (HSD) by Rs5 per litre.
Officially, fuel prices went up on October 16 after an official notification was issued late on Tuesday.
Earlier on Tuesday, the Finance Division released a statement in which it said, “The Oil and Gas Regulatory Authority (Ogra) calculated the consumer prices of petroleum products based upon modifications in the international market and with reference to the different prices,” as quoted in the statement.
There has been an increase of Rs5 per litre in the price of HSD. According to the official statement, the price of HSD has risen to Rs251.29.
It is mainly found in motor vehicles such as cars, motorbikes, rickshaws, and two-wheelers that use petrol. In the middle and lower-middle classes in particular, where there is a high consumption of petrol for both commuting and recreation, the increase in fuel prices has a significant impact on their budgets. Meanwhile, an important part of the transport sector relies on high-speed diesel, which is regarded as one of the most efficient fuels.
It is considered to be an inflationary element since it is primarily used in heavy-duty vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers, all of which are considered heavy-duty vehicles.
Vegetables and other food items are becoming more expensive in the market due to the increasing consumption of high-speed diesel.
Timenews1 provided that news.
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