WASIM IQBAL

ISLAMABAD: Federal government has announced on Saturday an increase in the price of high speed diesel (HSD) by Rs 6 per litre, following recommendations from the Oil and Gas Regulatory Authority (OGRA) for the second half of November.

According to the Finance Division’s statement, the price of petrol has been kept unchanged at Rs 265.45 per litre; however, the price of HSD has been increased from Rs 278.44 to Rs 284.44 per litre. Despite downward trend in global oil prices, the depreciation of the Pakistani rupee and local tax adjustments have continued to influence domestic fuel pricing.

At present, the government is charging Petroleum Levy and Carbon Levy of Rs80.52 per litre on petrol and Rs79.71 per litre on HSD. In addition to this, import costs and exchange rate movements play a major role in determining domestic fuel prices.

The final decision on the new prices has been announced by the Ministry of Finance after receiving recommendations from the OGRA. The revised prices will take effect from midnight on November 15.