The federal government has once again raised the prices of petroleum products, adding more pressure on already burdened consumers.
According to a notification from the Finance Division, the price of petrol has been increased by Rs. 8.36, bringing it to Rs. 266.79 per liter, while the price of high-speed diesel (HSD) has gone up by Rs. 10.39, reaching Rs. 272.98 per liter.
This is the second consecutive hike in petroleum prices. In the previous fortnightly review, petrol was raised by Rs. 4.80 per liter and HSD by Rs. 7.95 per liter.
The price hikes are being linked to recent volatility in global oil markets. A 12-day conflict, which began on June 13 after Israel launched strikes on Iran’s nuclear facilities, pushed oil prices above $80 per barrel. However, prices later dropped below $70 per barrel following a ceasefire.