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Thursday 29 February, 2024
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Petrol Price in Pakistan: Govt increases petrol price by over Rs 6

BY Faizan Ahmed Aug 15, 2022. 07:00 pm UPDATED: Aug 18, 2022. 08:08 pm

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Petrol prices in Pakistan have been increased by Rs6.72 per litre by the government on Monday.

According to a statement issued by the Finance Division, “In response to fluctuations in petroleum prices on the international market and exchange rate variations, the government has decided to amend the existing pricing or petroleum goods to pass on the impact to the consumers.”

The government increased the cost of gasoline but decreased the cost of diesel by Rs0.51.

According to the new pricing, kerosene oil will be sold for Rs199.40 per litre, gasoline will cost Rs233.91 per litre, diesel will cost Rs244.44 per litre, and light diesel oil will cost Rs191.75 per litre.

The new prices will come into effect from August 16, 2022.

ProductExisting Prices
w.e.f
01.08.2022
New Prices
w.e.f
16.08.2022
Increase/(-) Decrease
MS (Petrol)227.19233.91+6.72
High-Speed Diesel (HSD)244.95244.44-0.51
Kerosene201.07199.40-1.67
Light Diesel Oil191.32191.75+0.43

A day earlier, Federal Minister for Finance and Revenue Miftah Ismail stated that the Government of Pakistan is unable to pay any petroleum subsidies due to the requirements laid forth for the nation by the International Monetary Fund (IMF).

The finance minister was questioned during the Geo News programme “Naya Pakistan” about whether the government intended to lower the price of gasoline starting on August 15 to reflect the decline in the global market and the strengthening of the rupee against the dollar.

The finance ministry will not impose any additional taxes or levies on petroleum products, he continued, but he also emphasised that the government could not continue to lose money by giving subsidies.

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