Petrol prices nears Rs250 with another Rs14 increase in a few days
The coalition government announced another hike of Rs14.85 per liter in the price of petrol, taking the new petrol prices to Rs248.74 per liter.
This is the fourth fuel price hike in Pakistan since May 26. Petrol prices in Pakistan have increased by 66% or Rs98 in one month.
The new prices of petrol have been increased by Rs14.85 per liter to Rs248.74 from Rs233.89.
The rate of high-speed diesel has been increased by Rs13.25 per liter to Rs276.54 from Rs263.31.
The rate of kerosene oil has been increased by Rs18.83 per liter to Rs230.26 from Rs211.43.
Similarly, the rate of light-speed diesel has been increased by Rs18.68 per liter to Rs226.15 from Rs207.47.
The prices of petrol, high-speed diesel, kerosene and light-speed diesel have skyrocketed 66% (or Rs99), 92% (132.39), 95% (Rs111.95) and 80% (Rs100.59) since May 26, when the coalition government introduced the first of a series of fuel price hikes.
New prices as of July 1, 2022:
Petrol: Rs248.74
Diesel: Rs276.54
The Finance Division notification said in view of the fluctuations in prices in the international market and exchange rate variation, “the government has decided to partially apply the petroleum levy and revise the existing prices of petroleum products as agreed with the development partners.”
The government has assured IMF to gradually increase the petroleum levy on all products by Rs5 per liter every month to a maximum of Rs50 per liter.