Govt hikes petrol by Rs8, high-speed diesel by Rs5.16

New petrol price is Rs266.17 and Rs280.86 for HSD

The government on Saturday raised the prices of petrol by Rs8 per litre and high-speed diesel (HSD) by Rs 5.16 per litre for the next fortnight.

According to a notification issued by the Ministry of Petroleum, the new price of petrol has been set at Rs 266.17 per litre after the increase. Meanwhile, HSD has risen to Rs 280.86 per litre.

The revised prices will remain in effect from March 1 to March 15.

Read More: OGRA orders refineries to ensure adequate oil reserves due to Middle East situation

High-speed diesel is widely used in transport, agriculture and industry, while motor spirit is primarily consumed by private vehicles and motorcycles. Therefore, the increase in both types of fuel will have an impact on both types of users.

Earlier, the Oil and Gas Regulatory Authority ordered all stakeholders to make certain and ensure an adequate stock of petroleum products amid the raging conflict in the Middle East unleashed by attacks of Israel and the United States on Iran that prompted retaliatory strikes.