Last Update: March 16, 2023, 09:57 AM IST
People wait for their turn to get fuel at a petrol station on January 30, 2023 in Peshawar, Pakistan. Reuters/Fayyaz Aziz
The hike in fuel prices comes at a time when people in Pakistan are grappling with rising prices of essential commodities
The Pakistan government on Wednesday increased the prices of petrol and diesel by Rs 5 and Rs 13 per liter respectively. The new price will be applicable from Thursday.
“In the last fortnight, Platts Singapore prices registered an increase. This along with the depreciation of Pak Rupee has resulted in an increase in POL (Petroleum, Oil and Lubricants) products in Pakistan,” said a press release issued by the Finance Division.
With the latest hike, petrol will now cost Rs 272 per liter while high-speed diesel (HSD) will cost Rs 293 per liter in the cash-strapped nation.
The price of kerosene has also increased to Rs 190.29 per litre, while the price of light diesel oil (LDO) remains at Rs 184.68 per litre.
The hike in fuel prices comes at a time when people in Pakistan are grappling with rising prices of essential commodities.
The increase in the price of kerosene was kept at Rs 2.56 “by reducing government dues thereon”, the statement said. It added, ‘The price of Light Diesel Oil (LDO) has also been kept constant after adjusting government dues.’
Pakistan is reportedly facing difficulty in arranging crude oil and petroleum products due to shortage of foreign exchange and prevailing product pricing.
Earlier in February, Finance Minister Ishaq Dar had announced a reduction in petrol price by Rs 5 per liter while keeping the price of HSD unchanged at Rs 280 per litre.
(With inputs from Shailendra Vangu)
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