The federal government on Sunday increased the price of petrol by Rs9.66, taking the rate to Rs289.41 per litre.

The price of high-speed diesel (HSD) has been slashed by Rs3.32 per litre to Rs282.24.

The new prices take effect from April 01, 2024.

Business Recorder had earlier reported that the government may opt for a significant hike in ex-depot petroleum products prices.

The recent surge in petrol prices is attributed to an increase in premium from $12.15 per barrel to $13.507 per barrel, marking a $1.45 per barrel increment.

In the previous review, the government kept the petrol price unchanged and reduced the price of HSD by Rs1.77 per litre.