On a quiet Sunday night, the Finance Division announced substantial hikes in the prices of both petrol and diesel, with the rates soaring by Rs4.80 and Rs7.95 per litre, respectively.
As detailed in a notification observed by Dawn.com, the finance division articulated that the novel prices were determined “based on the recommendations of Ogra (Oil and Gas Regulatory Authority) and the pertinent ministries”.
Come June 16, high-speed diesel (HSD), which was formerly priced at Rs254.64 per litre, will now retail at Rs262.59.
Similarly, petrol, which cost Rs253.63 per litre, will now be available for Rs258.43.
Previous estimates suggested that petrol and diesel prices would increase by about Re1 and Rs5 per litre, respectively, for the next fortnight, owing to higher international market prices.
Based on existing tax rates, informed sources said that the ex-depot price of petrol was estimated to go up by about Re1 per litre depending on final calculation on June 15, followed by a Rs5 per litre increase in HSD.