Petrol price in Pakistan: POL products’ rates jacked up

[HAIDER]

ISLAMABAD: Despite the Petroleum prices in the international market but the government has raised the price of petrol by Rs5 to Rs272 per litre, making the people’s life more miserable amid sky-rocketing inflation.
The Finance Division issued the notification in the regard and attributed the price hike to the depreciation of the Pakistani rupee against the US dollar and an increase in the prices registered by Platts Singapore.
The price of hi-speed diesel has increased by Rs13 per litre whereas the increase in the price of Kerosene oil has been kept at Rs2.56 by reducing the government’s dues on it. Similarly, the price of light diesel oil has been kept constant by adjusting the government dues as well.
The new prices will come into effect from 12am (tonight, March 16) and remain in place till March 31.

Product	Existing prices w.e.f 01.03.2023	New prices w.e.f 16.03.2023	Increase
Petrol	267	272	+5
High-speed diesel	280	293	+13
Kerosene	187.73	190.29	+2.56
Light diesel oil	184.68	184.68	Nil

 

[Ali_Baba]

ISLAMABAD: Despite the Petroleum prices in the international market but the government has raised the price of petrol by Rs5 to Rs272 per litre, making the people’s life more miserable amid sky-rocketing inflation.
The Finance Division issued the notification in the regard and attributed the price hike to the depreciation of the Pakistani rupee against the US dollar and an increase in the prices registered by Platts Singapore.
The price of hi-speed diesel has increased by Rs13 per litre whereas the increase in the price of Kerosene oil has been kept at Rs2.56 by reducing the government’s dues on it. Similarly, the price of light diesel oil has been kept constant by adjusting the government dues as well.
The new prices will come into effect from 12am (tonight, March 16) and remain in place till March 31.

Product	Existing prices w.e.f 01.03.2023	New prices w.e.f 16.03.2023	Increase
Petrol	267	272	+5
High-speed diesel	280	293	+13
Kerosene	187.73	190.29	+2.56
Light diesel oil	184.68	184.68	Nil

People may not like this - but the sooner the price of fossil fuels reflects international prices where Pakistan does not have to subsidise the price with loans it cannot afford to pay back - the better.

( ironic i know - given that in the UK we are doing this for home heating right now - but that is a time boxed exercise and the UK can afford to finance it with GBP's ).

 

[maithil]

https://twitter.com/x/status/1637060800090198016