Pakistan

Pakistan Govt drops another petrol bomb on inflation-hit masses

The federal government has increased the price of petrol to a historic high in a bid to appease the International Monetary Fund (IMF) for unlocking the critical loan tranche, hours after unveiling a tax-loaded ‘mini-budget‘.

The price of petrol has been moved up to Rs272 per litre after an increase of Rs22.20, a press release from the Finance Division read Wednesday night, noting that the surge has taken place due to the rupee’s devaluation against the dollar.

The price of high-speed diesel has been increased to Rs280 per litre after a hike of Rs17.20. Kerosene oil will now be available at Rs202.73 per litre following a Rs12.90 hike. Meanwhile, light diesel oil will be available at Rs196.68 per litre after an increase of Rs9.68.

The new prices will come into effect from 12am tonight.

Product Existing prices w.e.f 29/1/2023 New prices w.e.f 16/2/2023 Increase
Petrol 249.80 272 22.20
High speel diesel 262.80 280 17.20
Kerosene 189.83 202.73 12.90
Light diesel oil 187 196.86 9.68

The increase in the price of petroleum products was one of the preconditions of the Washington-based lender, which will lead to a hike in the already record-high inflation, coupled with the new fiscal measures undertaken through the ‘mini-budget’.

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1 comment

Mohammad Siddique February 16, 2023 at 5:38 pm

Patrol is more expensive in Pakistan than in the USA.

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