Petrol and Diesel Price In Pakistan
The caretaker government of Pakistan has decided to increase the prices of petroleum products from September 16, 2023. It has been decided to increase the price of petrol in Pakistan by 26 rupees 2 paise per liter. Diesel price increased by 17 rupees 34 paise per liter, notification issued.
— Ministry of Finance (@FinMinistryPak) September 15, 2023
According to the notification, the new prices will be applicable from tonight. What will happen after the increase in the prices of petroleum products?
|Product||Old Price||New Price||Difference|
|MS Petrol||Rs. 305.36||Rs. 331.38||Rs. 26.02|
|Hi-Speed Diesel||Rs. 311.84||Rs. 329.18||Rs. 17.34|
The government has already increased the prices of petrol and high-speed diesel by around Rs 33 on September 1, 2023. International Monetary Fund (IMF) loan conditions forced the government to pass on the burden of rising commodity prices to the public.
The price increase is based on current tax rates and import parity prices, mainly due to currency fluctuations and marginal increase in international oil prices.
It should be noted that the government is charging a levy of Rs 2 per liter on petroleum. Rs 55 per liter on petrol and Rs 50 per liter on high speed diesel. A possible increase in their prices may affect inflation in October.