Rs14 | Pakistan

The government on Monday decreased the high-speed diesel (HSD) price by Rs14 and kept the petrol price unchanged for the fortnight ending December 31, owing to favourable international market prices. In a late-night announcement, the Petroleum Division said the revision followed movements in international markets and recommendations from the Oil and Gas Regulatory Authority (Ogra). According to the announcement, the ex-depot price of HSD has been reduced by Rs14 per litre (5pc) to Rs265.65 per litre for the current fortnight from Rs279.65 per litre. Most of the transport sector runs on HSD. Its price is considered inflationary as it is mostly used in heavy transport vehicles, trains and agricultural engines like trucks, buses, tractors, tube-wells, threshers, and particularly adds to the prices of vegetables and other eatables. Transporters had already increased their fares based on an approximate Rs27 per litre increase between May and August, and have not reversed them despite a Rs9 per litre cut. The ex-de...

The federal government has announced a sharp increase in petroleum prices for the next fortnight, with petrol prices surging by Rs14.