On Sunday morning, two days before the bimonthly review, the federal government abruptly announced a significant increase in the price of products containing petroleum, effective right away.
Ishaq Dar, the finance minister, made the announcement at a press conference. The revised tariffs have caused the price of fuel to rise by 35 rupees per liter.
Govt announced new prices of Petroleum Products with effect from 11.00 hrs, 29 Jan ,2023.
— Ministry of Finance (@FinMinistryPak) January 29, 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
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According to the finance minister, the decision was made earlier because social media was flooded with rumors of a 50 rupee increase, which led to fake shortages in the market.
The depreciation of the Pakistani Rupee versus the US Dollar and the rise in oil prices on the global market, in the minister’s opinion, is to blame for the rise in gas prices.
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In addition to petrol, high-speed diesel has also seen a price increase of 35 rupees per liter. The cost of kerosene and light diesel oil (LDO) has increased by 18 rupees per liter.
With the rise, the cost of fuel has increased to Rs. 249.80 per liter, and the cost of HSD has increased to Rs. 262.80 per liter. Kerosene oil will now cost Rs. 189.83 per liter, while light diesel oil will cost Rs. 187 per liter.
