Petrol price jacked up by Rs5 per litre.

ISLAMABAD -- The government on Wednesday increased the price of petrol by Rs5 and high speed diesel (HSD) by Rs13 per litre.

The new prices will be effective from March 16 (today).

'In the last fortnight, Platts Singapore prices registered an increase. This along with a depreciation of Pak Rupee has resulted in an increase of POL products in Pakistan,' the finance ministry said a statement.

According to the ministry, petrol will now be available at Rs272 per litre, as compared to its previous price of Rs267 per litre. Likewise, the government enhanced HSD price by Rs13, from a previous Rs280 per litre to Rs293 per litre now.

The increase in the price of kerosene oil has been kept at Rs2.56 by reducing the government dues on it. It will now be sold at Rs190.29 per litre as compared to its previous price of Rs187.73 per litre.

Read Petrol price slashed by Rs5 per litre

The price of Light Diesel Oil (LDO) has been kept unchanged by adjusting the government dues. It has been maintained at Rs184.68 per litre.

The free fall of the rupee against the dollar has hit oil consumers again. The local currency had witnessed depreciation by Rs15.97 from Rs262.14 to Rs278.97 to a dollar during the first fortnight of March, setting stage for a hike in prices of petroleum products.

The government is currently charging Rs50 per litre petroleum levy on petrol and HOBC.

Petrol is used in cars and bikes. Its price has already gone up to a record level.

The increase in the price of HSD, which is widely used in agriculture and transport sectors, is expected to majorly impact the common man and farmers who use the fuel in tractors.

Meanwhile, kerosene oil...