The federal government on Thursday approved another big increase in diesel and petrol prices for the next eight days.
The Prime Minister has sanctioned an increase of Rs. 19.39 per litre in the price of diesel and Rs. 6.51 per litre for petrol. Following the approval, the price of diesel will now be Rs. 399.58 per litre and petrol Rs. 399.86 per litre.
Implementation of the new prices will be carried out effective immediately on Friday, May 1, 2026.
The government, last week, increased diesel by Rs. 26.77 per litre and also petrol by the same amount.
Increasing levies on fuel prices is the easiest way to meet tax collection targets as collection from other sources is hard and politically challenging. So, GoP chooses the easiest and quickest ways.
Fun fact
The last increase was due to imf levy demand. Not oil price increase