ISLAMABAD: The government raised diesel prices by Rs19.39 per litre and petrol by Rs6.51 per litre effective Friday, the second consecutive weekly fuel hike as surging global crude oil prices pile fresh pressure on the cash-strapped nation’s economy, the Ministry of Energy announced Thursday.
The increases push motor spirit from Rs393.35 to Rs399.86 per litre and high speed diesel from Rs380.19 to Rs399.58 per litre, while the government simultaneously imposed a new petroleum levy of Rs28.69 per litre on diesel, up from zero, even as it trimmed the petrol levy by Rs3.88 to Rs103.50 per litre.
The back-to-back hikes come as global crude climbed roughly $13 in a single week to approximately $110.75 per barrel Thursday, driven by the Middle East instability. Last week, Islamabad had already raised both petrol and diesel prices by Rs26.77 per litre each.
In a rare concession to consumers, kerosene prices were cut by Rs4.45 to Rs360.76 per litre.
