Federal govt announces immediate petrol price hike, two days ahead.
Finance Minister Ishaq Dar announced the decision at a press conference. Petrol has been increased by Rs 35 per litre under the revised price.
Govt announced new prices of Petroleum Products with effect from 11.00 hrs, 29 Jan ,2023.
High Speed Diesel-Rs 262.80 per litre
MS Petrol —Rs 249.80 per litre
Kerosene Oil -Rs 189.83 per litre
Light Diesel Oil – Rs 187 per litre
— Ministry of Finance, Government of Pakistan (@Financegovpk) January 29, 2023
The finance minister stated that the decision was made earlier because social media was rife with rumours of an Rs. 50 increase, causing artificial shortages in the market.
According to the minister, the rise in petroleum prices is due to the depreciation of the Pakistani rupee against the US dollar as well as an increase in international oil prices.
In addition to petrol, the price of high-speed diesel has been raised by Rs. 35 per litre. Light diesel oil (LDO) and kerosene oil prices have also risen by Rs. 18 per litre.
With the increase, petrol will now cost Rs. 249.80 per litre, while HSD will cost Rs. 262.80 per litre.
Similarly, the new price of kerosene oil is Rs. 189.83 per litre, while light diesel oil is Rs. 187 per litre.
