The ongoing series of fuel price hikes continue to pummel the Pakistani public as the government has announced yet another massive increase in the prices of petroleum products.
The prices of petrol and high-speed diesel fuel have gone up by Rs. 8.03 per liter and Rs. 8.15 per liter respectively, and those of kerosene oil and light diesel fuel have been upped by Rs. 6.27 per liter and Rs. 5.72/liter respectively, according to a notification by the Ministry of Finance.
Effective from today, the new prices of the petroleum products are as follows:
|Products||Old Prices (Rs./liter)||Increase (Rs./liter)||New Price (Rs./liter)|
|High-Speed Diesel Fuel||134.48||8.14||142.62|
|Light Diesel Fuel||108.35||5.72||114.07|
The Prime Minister had asked the Ministry of Finance to hold the price of petrol price during the recent protest by the Tehreek-i-Labbaik Pakistan, which had led to the notion that the prices have been kept the same to provide relief to the masses.
However, that was not the case as the latest notification about the price hikes was issued on Friday, driving up the prices of petrol with immediate effect.
While the escalation of the prices is being attributed to the volatility of the prices of oil worldwide, a report by Dawn News indicates that it is mainly due to the depreciation of the local currency and an increase in the tax rates.