The federal government increased the price of petrol by Rs 8 per litre for the next fortnight, starting from March 1.
In a notification, the Petroleum Division announced that the price of petrol has been increased to Rs 266.17 per litre, up from Rs 258.17.
Similarly, the price of diesel has been raised by Rs5.16 to Rs280.86 per litre, compared with the previous rate of Rs275.7.
Petrol is mainly used by commuters in small vehicles, rickshaws and two-wheelers. Higher fuel prices significantly impact the budgets of middle and lower-middle class households, who rely on petrol for daily travel.
On the other hand, a significant portion of the transport sector relies on high-speed diesel.
Its price is considered inflationary since it is predominantly used in heavy goods transport vehicles, trucks, buses, trains, and agricultural machinery such as tractors, tube wells, and threshers. The consumption of high-speed diesel particularly contributes to the increased prices of vegetables and other food items.