The government raised the price of petrol to Rs272 per litre, adding pressure on the inflation-weary people.
\nThe Finance Division, in its fortnight bulletin, attributed the price hike to the depreciation of the Pakistani rupee against the US dollar and an increase in the prices registered by Platts Singapore.
\n\u201cAccordingly the price of MS(Petrol) has increased by Rs5 per litre and the price of hi-speed diesel has increased by Rs13 per litre,\u201d the notification read.
\nThe increase in the price of Kerosene oil has been kept at Rs2.56 by reducing the government\u2019s dues on it. Similarly, the price of light diesel oil has been kept constant by adjusting the government dues as well.
\nThe new prices will come into effect from 12am (March 16) and remain in place till March 31.
\nOn February 28, the federal government decreased the price of petrol by Rs5 per litre to Rs267 per litre for the next fortnight which was a bit opposed to the market prediction as it expected that the government would hike the rate for appeasing the International Monetary Fund (IMF) \u2014 whose loan is critical for the cash-strapped nation.
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