Prices of petrol and diesel have reached an all-time high this week as Pakistanis are grappling with high inflation due to high food and energy prices.
The average price of petrol hit Rs272 per liter and high speed diesel (HSD) now cost Rs280 per liter, beating all former records.
The new prices would be effective from February 16 (Thursday). “Increase in price is due to Pakistani rupee devaluation applicable for the calculation of current pricing period,” the official statement said.
The increase came hours after the finance minister tabled a finance bill in parliament to raise Rs 170 billion in new taxes to revive a stalled International Monetary Fund (IMF) loan program. The bill proposes increasing the general sales tax (GST) from 17%to 18% as well as increasing the federal excise duty on cigarettes, sugary drinks and cement.
New petroleum prices in Pakistan as of February 16, 2023
- Petrol – Rs272 per litre
- High speed diesel (HSD) – Rs280 per liter
- Kerosene – Rs202.73
- Light diesel oil (LDO) – Rs196.68 per liter
