ISLAMABAD: Pakistan government on Wednesday hiked petrol prices by Rs 5 per litre. Before Ramadan — to further burden the people who are tired of inflation.
The finance department in its fortnightly bulletin gave the reason for the price hike Depreciation of Pakistani Rupee Against the US dollar and the price increase recorded by Platts Singapore.
“Accordingly, MS (Petrol) price has been increased by Rs 5 per liter and high speed diesel by Rs 13 per litre,” it said.
The increase in the price of kerosene was kept at Rs 2.56 by the government’s reduction in levies on it. Similarly, the price of light diesel oil has also been kept stable by adjusting government payments.
The new prices will be effective from 12.00 (today, March 16) and will remain until March 31.
|Product||Current prices wef
|High speed diesel||280||293||+13|
|Light diesel oil||184.68||184.68||Zero|
On February 28The federal government cut petrol prices by Rs 5 per liter to Rs 267 per liter in the next two weeks, somewhat against market expectations, as the government expected the International Monetary Fund (IMF) to raise interest rates — its loan is crucial for the cash-strapped country. .
However, as people struggle to make ends meet, rising fuel prices are expected to further fuel inflation in the coming Ramadan – already close to a 50-year high.