Govt increases petrol by Rs4.8, diesel by nearly Rs8 for next fortnight

• High-speed diesel increased by Rs7.95 per litre.
• Petrol's new price is Rs262.59, HSD Rs258.43 per litre.
• Govt raised petrol price by Re1 in previous fortnight.
  

The federal government on Sunday announced an increase in the petrol price by Rs4.80 per litre for the next 15 days, raising it to Rs262.59 from Rs254.64 per litre.

In a notification, the Finance Division said that the new petrol price will take effect from June 16.

The rate for high-speed diesel was also increased by Rs7.95 per litre, raising it to Rs258.43 from Rs253.63 per litre.

In the previous fortnight, the federal government had raised the petrol price by Re1 amid largely stable global oil markets.

Petrol is primarily used in private transportation, small vehicles, rickshaws, and two-wheelers. Rising fuel prices significantly affect the budgets of middle- and lower-middle-class households, who mainly rely on petrol for commuting.

In contrast, a substantial portion of the transport sector depends on high-speed diesel. Its price is considered inflationary, as it is extensively used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers. The increased cost of high-speed diesel directly contributes to the rising prices of vegetables and other essential food items.