Wednesday – The federal government hiked petrol prices by Rs 5 per liter with immediate effect due to rising oil prices in the international market and depreciation of the Pakistani rupee.
Finance ministry told that the price of petrol is now Rs 272 per liter as compared to Rs 267 per liter earlier. Similarly, the government raised the price of High Speed Diesel (HSD) by Rs 13 from Rs 280 to Rs 293 per liter.
Finance Ministry Stated,
Platts Singapore prices have increased over the past two weeks. This, together with the depreciation of the Pakistani rupee, has led to an increase in Pakistani POL products!
Kerosene prices rose by Rs 2.56 to Rs 190.29 a liter from Rs 187.73 a liter. Gas and diesel prices, however, remained unchanged at Rs 184.68 per liter. On February 28, the government reduced petrol prices by Rs 5 per liter.
Petrol is used in motorcycles and cars and is an alternative to compressed natural gas (CNG), especially in Punjab. The government has decided to raise oil taxes in March and April, in line with its commitments with the International Monetary Fund.
Diesel is widely used in the transportation and agricultural sectors. Kerosene is used for cooking, especially in the far north of the country where LPG is not available.
