Petrol price hike in Pakistan hits new record

Logan D Suza

Petrol price hike in Pakistan hits new record

The price of essential fuel petrol has been increased again in Pakistan. The day after the new caretaker Prime Minister Anwarul Haque Kaka took office, the fuel prices were hiked in the country.

Pakistani media The Dawn reported that the new prices have been implemented since Tuesday (August 15) night. The media also reported that according to the new prices, the price of diesel per liter has increased by more than 20 rupees. It is feared that the increase in the price of energy will have an impact on the overall inflation of the country. This inflation has been somewhat stable in the last two months.

According to the new price, now Pakistanis will have to buy petrol at Rs 290.45 per litre. The price of petrol has increased by Rs 17.50 from the previous price. On the other hand, high speed diesel has increased by more than Rs 20 per liter to Rs 293.40.

The finance ministry announced the price hike only after Caretaker Prime Minister Anwarul Haque Kakar approved it.

The Ministry of Finance said that due to the increase in the price of fuel in the international market, they had to increase the price overnight. However, prices of kerosene and light diesel remain unchanged.

Meanwhile, the outgoing Shehbaz Sharif government had hiked fuel prices just 15 days ago. This means that in a span of just two weeks, the price of fuel has increased by Rs 40 per liter in the country.

Last March too, the price of high speed diesel was Rs 293 per litre.

The increase in the price of this fuel will affect all sectors. Because they are used in heavy transport vehicles, trains, agricultural equipment such as trucks, buses, tractors, tube wells and threshers. Due to increase in its price, the price of vegetables and other edible products will also increase now.

On the other hand, the price of petrol rose to Rs 282 in March. But later the price was reduced to Rs 253. Petrol is used in private vehicles, small vehicles, rickshaws, two wheelers. And its price hike will affect the middle class and lower middle class.

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